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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.