The crew and loading staff had a narrow escape when the 11,000-tonne vessel tilted at the Vishakhapatnam port, reportedly while iron billets were being loaded onto it around 3.30 pm.
The ship kept keeling until it touched the berth.
Around 1,200 MT iron was loaded when the ship lost its balance.
The crew is now removing the cargo to help balance the ship again.
Had the ship tilted the other way, it would have sunk, officials said, commenting that it would have caused major losses.