GE Shipping contracts to buy a modern double hull Suezmax crude carrier

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company has signed a contract to buy a 1,47,834 dwt., modern Suezmax crude carrier. The 1996 built double hull tanker is expected to join the Company´s fleet during Q3 FY 2006-07.

The Company´s decision to induct the said vessel is with the objective of enhancing its double hull tonnage apart from building a modern Suezmax fleet. With this delivery, the crude tonnage will stand at 15 ships aggregating 1.95 mn dwt.

The Company´s current fleet of 74 vessels, comprises 40 ships (31 Tankers and 9 Drybulk carriers) aggregating 2.87 mn dwt and 34 offshore vessels (2 Exploratory Rigs, 20 OSVs. 11 Harbour tugs and a Construction barge). The new building order book comprises 5 Medium Range and 4 LR1 Product Tankers (aggregating 0.51 mn dwt) and 5 OSVs (4 AHTSVs and 1 PSV).

Source : Equity Bulls

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