December 4, 2017 / 10:04 AM / 14 days ago

BUZZ-Indian shipping stocks surge as oil refiners issue tanker tenders

** Shipping Corp of India Ltd shares rise more than 11.3 pct, Essar Shipping Ltd up as much as 6.3 pct

** Mercator Ltd gains as much as 3 pct, Great Eastern Shipping Co Ltd climbs 1.7 pct

** Two Indian state-owned oil refiners issued tenders seeking to charter tankers for at least 5 years while giving preference to Indian companies, which would boost domestic shipping firms battered by slumping tanker rates

** Shift to the five-year contracts would give millions of dollars in tanker contracts to Indian carriers - govt source

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