Mumbai's G.E. Shipping Company inks deal to buy South Korean built long-range product carrier

Mumbai, Oct 10: In order to buy a larger product carrier, the Great Eastern Shipping Company has signed a contract to buy a second-hand long-range product carrier of about 105,258 deadweight tonnes.

 

 

"We wish to inform you that the Company signed a contract to buy a secondhand LR2 Product Carrier of about 105,258 dwt. The 2012 South Korean built vessel is expected to join the Company’s fleet in Q3 FY21, it said in a statement.

 

 

The 2012 South Korean built vessel is expected to join the company's fleet in the third quarter (October to December). The company's current fleet stands at 46 vessels, comprising 33 tankers (11 crude carriers, 17 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 12.39 years aggregating 3.7 million deadweight tonnes.

 

The Shipping Company has already contracted to sell its 1996 built very large gas carrier Jag Vidhi, which will be delivered to buyers in Q3. The company has also contracted to buy a very large gas carrier, which is expected to be delivered soon.

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