Shipping Corporation of India (SCI) is planning to use shipyard refund cash to order a new series of vessels.
The state-controlled owner said it has received INR 3.3bn ($48.41) from cancelled deals for three boxships and a kamsarmax bulker due to delays.
It also renegotiated a contract for a VLCC newbuilding.
SCI said it now has permission to spend the money on "any number" of new ships.
These
