G E Shipping Inks Contract to Buy Supramax Bulker

Mumbai-based Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to buy a Supramax dry bulk carrier from an unnamed shipowner.

The 58,000 vessel, which was built in 2009, is expected to join the company’s fleet in the third quarter of the 2017 financial year.

In August 2016, the company took delivery of a newbuilding resale Kamsarmax dry bulk carrier Jag Akshay. Featuring 82,044 dwt, the vessel was built by China’s Jiangsu New Yangzi Shipbuilding.

G E Shipping’s fleet is currently comprised of 37 vessels, including 24 tankers and 13 dry bulk carriers, with an average age of 8.9 years.

Market value of the company’s current fleet stands at USD 622.3 million, according to data provided by VesselsValue.

Additionally, the company has 1 newbuilding Kamsarmax on order.

World Maritime News Staff

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