The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to
join the Company's fleet during the second quarter of FY 2007-08.
The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet.
The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3.22 mn dwt comprises 34 tankers (13 crude tankers, 19 product carrier
s and 2 lpg gas carriers) and 12
dry bulk carriers. The outstanding new building order
of $239mconstitutes 5 product tankers, aggregating 0.33 Mn dwt. to be delivered at intervals during the next 2 years.