G E Shipping to Buy Secondhand MR Tanker

  • Business & Finance

Mumbai-based Great Eastern Shipping Company Ltd (G E Shipping) has signed a contract to acquire a secondhand Medium Range (MR) product tanker of about 51,000 dwt.

The vessel, which was constructed in 2008, is scheduled to be delivered to the company in the first quarter of fiscal year 2018.

The MR tanker would join G E Shipping’s current fleet of 44 vessels, comprising 29 tankers and 15 dry bulk carriers.

In mid-March, G E Shipping decided to expand its dry bulk shipping fleet as it reached an agreement to buy a secondhand Supramax dry bulk carrier. Featuring 52,450 dwt, the 2006-built bulker is expected to be handed over to its new owner at the start of 2018.

With an average age of 9.53 years, G E Shipping’s fleet currently features a total capacity of around 3.69 million dwt.

Additionally, the company has 1 Secondhand Supramax on order. After delivery of these 2 contracted vessels, the company will have a fleet of 46 vessels.

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