Indian Shipper Says War in Ukraine Needs to Abate for Stake Sale
- Market performance to determine divestment timing, head says
- Crude prices to be major constraint for Shipping Corp.
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Shipping Corp. of India Ltd.’s proposed privatization may need to wait until the market turbulence triggered by Russia’s invasion of Ukraine blows over and investors regain confidence.
“Globally markets are facing impact of the crisis, I don’t think this is the right opportune moment,” Shipping Corp. Chairperson and Managing Director Harjeet Kaur Joshi said in an interview to Bloomberg Television on Tuesday. The performance of the market will “majorly” drive the timing for the divestment, she said, adding that is not the government’s view.