Wednesday, 8 May 2013

EFFECT OF 1965 WAR

The war between India and Pakistan adversely affected the Corporation’s operations. Although all its services continued to operate normally but vessels transiting home waters had to be specially re-routed for security reasons. As a result of rationalization of country’s import below normal because of the prevailing market uncertainties, port congestion, the seamen’s strike in the UK, the increased stevedoring, insurance, port dues and cargo handling costs, affected the Corporation’s revenues. In spite of these adverse factors the Corporation’s overall commercial operations showed adequate and satisfactory profits

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