G Shivakumar told analysts during a conference call that the company now has a “reasonable exposure” to the dry sector.

But he added: “Again, if there are opportunities which come up, if these markets remain bad, we could look at adding to our exposure to that dry bulk space or even to the product tanker space.

“The only thing in the dry bulk space is that it is big bet on the direction that China is going to take and how the Chinese economy and how the Chinese infrastructure development is going to pan out.