GE Shipping to Buy Secondhand VLGC
India's largest private sector shipping company which mainly transports liquid, gas and solid bulk products Great Eastern Shipping Company Limited (GE Shipping) signed a contract to buy a secondhand Very Large Gas Carrier (VLGC) of about 81,617 cbm.
The 2007 built vessel is expected to join the Company’s fleet in Q1 FY19. This is the second gas carrier in less than a week as GE Shipping looks to tap the rising demand to import liquefied petroleum gas (LPG) in India.
On March 26, GE Shipping signed a contract to buy a secondhand Medium Gas Carrier (MGC) of about 36,567 cbm. The 1996 built vessel is expected to join the Company’s fleet in Q1 FY19.
The Company’s current fleet stands at 47 vessels, comprising 32 tankers (12 crude carriers, 17 product tankers, 3 LPG carrier) and 15 dry bulk carriers (1 Capesize, 8 Kamsarmax, 6 Supramax) with an average age of 10.37 years aggregating 3.88 mn dwt. Additionally, the company has committed to purchase 1 secondhand Medium Gas Carrier.