Directors at Essar Shipping have voted in favour of replacing older vessels with younger tonnage at a meeting today.
The board of directors have passed a resolution that will allow the company make sale and purchase (S&P) moves.
Essar’s last deal took place in May, when it offloaded the 151,000-dwt Badri Prasad (built 1990).
It controls a mixed fleet of bulkers, tankers and tugs.
Essar's
