The Mumbai-based company was looking to buy a 3,000-dwt platform supply vessel (PSV) resale newbuilding from China’s POET Shipbuilding & Engineering this year. But it is now having second thoughts because of the oversupply of ageing tonnage in the domestic market.
Mohan Samant, co-founder and managing director of the company, confirms that it was negotiating for the PSV but says the market no longer supports fresh buys.
He
