G E Shipping Adds Suezmax Tanker

Illustration; Image Courtesy: G E Shipping

Mumbai-based Great Eastern Shipping Company (G E Shipping) has taken delivery of Jag Leena, a secondhand Suezmax crude carrier. 

In December 2016, the company inked contracts with Panama-based Bretta Tanker Holdings to buy two vessels including Jag Leena.

Jag Leena, previously known as Eugenie, was purchased for USD 36.4 million, according to data provided by VesselsValue.

The 157,700 dwt tanker was built by South Korean shipbuilder Samsung Heavy Industries (SHI) in 2010.

Including Jag Leena, G E Shipping’s fleet currently stands at 43 vessels, comprising 28 tankers and 15 dry bulk carriers with an average age of 9.56 years and a total tonnage 3.54 million dwt. Additionally, the company intends to purchase one secondhand Suezmax.

The announcement comes on the back of the company’s financial results for the quarter ended December 31, 2016, which show that G E Shipping delivered a net income of INR 238.36 crores (around USD 36.3 million), lower from a net income of INR 358.13 crores (USD 54.6 million) seen in the same period of 2015.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >