Indian's Great Eastern Shipping will not be spending big in the coming months after a huge vessel-buying drive over the last year.
The company has added 14 tankers and bulkers at a cost of INR 35bn ($543.66m) in the second-hand market recently, boosting the fleet to 45 vessels.
Bharat Sheth, deputy chairman and managing director, told the Business Standard: "Ships are best bought when markets are at their worst and that is precisely what we did last year, and purchased second-hand vessels at 20-30-year-low prices.
