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Essar pushes forward fleet rejuvenation scheme

Shipbrokers will be knocking at the doors of one of India’s top private lines following today’s board meeting at Essar Shipping to rubber stamp a new policy to rejuvenate the fleet. Essar plans to offload older tonnage and buy in younger secondhand ships.

Essar’s 36-strong fleet is a mix of bulkers, a VLCC, tugs, general cargo ships and a dredger. In February it was reported in India’s Financial Express that Essar was in talks for four panamaxes.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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