State-run Shipping Corp of India Ltd plans to order 37 vessels in two years, spending about $2 billion to benefit from the fall in ship prices, the Business Standard paper reported on Friday.
Currently, Shipping Corp has 77 vessels with a capacity of 5.8 million deadweight tonne, the paper reported citing its Chairman and Managing Director S Hajara.
"Prices for ships have already come down and we see a possibility of it further coming down for some time this year," the paper quoted S Hajara as saying.