Concor scraps coastal shipping tender

Capt. John

To float new tender soon with revised terms

Container Corporation of India Ltd (Concor) has scrapped a tender to hire two container ships for 10 years to start coastal shipping business after the lowest bidder pulled out his quote before the Navratna company launched a reverse auction.

Reverse auction is a mechanism followed by state-run firms to gauge whether any of the qualified bidders are willing to offer a rate lower than the one discovered through the initial bidding process.


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