State-backed Shipping Corporation of India (SCI) is having a clear out of its older tonnage. India’s flagship carrier reported an interim loss this year and is anxious to make a quick turnaround.
The company has sent two boxships and two tankers for scrap so far this year, and local media report that SCI is earmarking further older ships to send for recycling in the coming months.
SCI has also made clear that along with the clear out it is in the market for younger ships to expand and reduce the average age of its fleet.
