It has lined up capital expenditure of INR 19.39bn ($356.7m), against INR 24.97bn in 2012-13.
SCI needs the money to pay for four or five ship deliveries in the current financial year.
“We want to consolidate our cash. We have enough deliveries in the pipeline. We are not thinking about placing any new order this year,” said Sunil Thapar, director of the bulker and tanker division and potentially SCI's next boss.
SCI has taken delivery of eleven vessels during 2012-13 and disposed of five older ones. As a result, the average age of its fleet is now around 10 years.
Overall net losses grew to INR 1.29bn ($23.92m) in the nine months to 31 December, compared to INR 723m in 2011.
