G E Shipping Sells Kamsarmax Newbuilding

Mumbai-based Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell its newbuilding Kamsarmax dry bulk carrier to an undisclosed buyer.

The 81,600 dwt Jag Akash is currently under construction at Tsuneishi Heavy Industries (Cebu) Inc., the Philippines, and will be delivered to G E Shipping in August/September 2015, after which it will be delivered to the new owner.

After the sale of the Jag Akash, G E Shipping will operate a fleet of 30 vessels, comprising 21 tankers and 9 dry bulk carriers with an average age of 9.6 years and an aggregate tonnage of  2.36 million dwt.

The company’s newbuilding orderbook now stands at three 82,000 dwt Kamsarmaxdry bulk carriers under construction at Jiangsu New Yangzi Shipbuilding Co. Ltd.,China, and one 50,000 dwt MR product tanker being built by STX (Dalian) Shipbuilding Co. Ltd.,China.

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