India's Machtrans Ship Management has doubled its fleet after it emerged as the buyer of an auctioned Mercator tanker.
The Mumbai-listed owner's 36,000-dwt Hansa Prem (built 2001) was the subject of an arrest order by a creditor, but the forced sale order granted to the Export-Import Bank of India (Exim Bank) took precedence.
It has now been renamed Prem after being acquired at an online auction for $3.6m
