G E Shipping to Add Secondhand VLGC

Illustration; Image Courtesy: G E Shipping

India-based Great Eastern Shipping (G E Shipping) has reached an agreement for the purchase of a secondhand very large gas carrier (VLGC), built in 2007.

Featuring 81,617 cbm, the unit is scheduled to join the company’s fleet in the first quarter of fiscal year 2019.

G E Shipping did not unveil the financial details of the purchase deal, nor the name of the seller.

In late February, the company revealed that it decided to expand its fleet with a secondhand medium gas carrier. The agreement for the 36,567 cbm ship was signed with an undisclosed seller.

As informed, the 1996-built vessel is expected to join G E Shipping’s fleet in the first quarter of fiscal year 2019.

G E Shipping’s fleet currently stands at 47 vessels, comprising 32 tankers and 15 dry bulk carriers with an average age of 10.37 years aggregating 3.88 million dwt.

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