Dubai operator Nan Lian Ship Management has made a switch into tankers following the auction of an Indian medium-range product tanker in Mumbai.
India's Mercator, the former owner of the 47,000-dwt Prem Mala (built 2000) said the sale was ordered by the Bombay High Court in an admiralty suit.
Axis Trustee Services on behalf of UTI Structured Debt Opportunities Fund I (UTI) had arrested the vessel four months ago.
