G E Shipping Buys Two Suezmax Tankers

Mumbai-based Great Eastern Shipping (G E Shipping) has inked contracts to buy two 157,000 dwt Suezmax crude carriers from Panama-based Bretta Tanker Holdings.

The ships in question are the 2010-built Eugenie and the 2011-built Devon and they were sold for USD 36.4 million and USD 38.6 million, respectively.

Built by South Korean shipbuilder Samsung Heavy Industries, the tankers are expected to join the company’s fleet in the fourth quarter of fiscal year 2017.

Last week, G E Shipping signed a contract to buy a 150,000 dwt Suezmax crude carrier which will be delivered to the company also in the fourth quarter of fiscal year 2017.

The company’s current fleet stands at 38 vessels, comprising 24 tankers and 14 dry bulk carriers, with an average age of 9.89 years.

Additionally, G E Shipping has two secondhand Aframaxes and one newbuilding Kamsarmax on order. Following the delivery of the six contracted vessels, the company’s fleet will be comprised of 44 vessels.

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