The ratings of Pratibha Shipping was suspended by India Ratings as the former failed to provide adequate information on its current debt repayment and status of operations of its various vessels. In the absence of these information, the rating agency is unable to make an assessment of the com
Tag: Pratibha Shipping
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DGS says financially strained Pratibha may trim fleet size
Citing financial difficulties, shipping firm Pratibha Shipping considers to reduce its fleet size. According to the Directorate General of Shipping (DGS), as part of the plan, the company, which owns nine oil tankers, plans either to sell or scrap five vessels. The company anchored a total of three vessels — Koyna at a port in Bahrain, and Chandrabhaga and Narmada in Chinese shipyards in foreign shores, with owne
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Pratibha Shipping may seek funds from banks
Media reports suggest that Pratibha Shipping approached a few banks to secure funds for undertaking salvage operations of its small oil tanker and to meet othe