PTI quoted Directorate General of Shipping saying that private sector shipping company Pratibha Shipping, which has a fleet of nine oil tankers, is planning to either sell or scrap 5 vessels due to financial crunch.
A DGS statement said that “For the past couple of months, the financial position of the company has been deteriorating which has resulted in the stranding of all nine ships statutory and mandatory certificates have expired.”
The DGS statement added that the vessels, owned by the company, are presently in ports or at anchorage or at the shipyards in Indian waters and overseas.
A majority of the vessels also have staff stranded on board and the DGS, in association with other bodies like seafarers unions, Coast Guard and ports, convened an emergency meeting to look into the issue yesterday.
It said that it has been decided to let a majority of the sailors, who have pending wages, to go back to their respective home towns.
It added that a total of three vessels Koyna at a port in Bahrain and Chandrabhaga and Narmada in Chinese shipyards, are anchored in foreign shores, with owners having outstanding dues in both the geographies.
The DGS said that the company, owned by the A N Pawar family since 2002, has promised to settle the outstanding wages of the crew through the sale proceeds of the vessels being scrapped.
