ISNC meaning in Business ?

Answer: What is Illawarra Steam Navigation Company mean?

The Illawarra Steam Navigation Company was a shipping company that serviced the south coast of New South Wales, Australia from 1858 to the early 1950s. It was formed through the amalgamation of the General Steam Navigation Company, the Kiama Steam Navigation Company and the Shoalhaven Steam Navigation Company, each of whom serviced parts of the south coast with their respective vessels. After merging, the new company held a near monopoly in regard to shipping on the south coast, and their fleet visited every significant port between Sydney and the border of Victoria. The company transported both passengers and a range of produce, including livestock, and hence it became known as the 'Pig and Whistle Line': it was said that ships would wait an hour for a pig but not a minute for a passenger.

Over the years more than twenty steamships were a part of the fleet, including the 1112-ton Merimbula and the 693-ton Eden. Many of these vessels were purpose-built for the company's needs, and were constructed at shipyards both within Australia and abroad. The company's eventual demise came as a result of a number of factors, including increased competition from road and rail, the cost of replacing ships after World War II, waterfront disputes and rising costs. As a consequence, after almost 100 years in operation, the company was placed into voluntary receivership and was delisted from the stock exchange in 1955.

reference nan