G E Shipping Contracts to Sell a VLGC

 

The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Vidhi”, a Very Large Gas Carrier. The 1990 built vessel of about 49,701 dwt will be delivered to the buyers in the second half of 2014-15.

On 21st May this year the company had delivered its 1996 built Medium Range Product Tanker “Jag Padma” (47,172 dwt) to the buyers. Excluding “Jag Vidhi”, the Company’s fleet stands at 28 vessels, comprising 20 tankers (8 crude carriers, 12 product carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 9.5 years aggregating 2.32 mn dwt.

The company has six new buildings on order. A Medium Range (MR) Product Tanker is on order with STX (Dalian) Shipbuilding Co. Ltd.,China. Two Kamsarmax Dry Bulk Carriers being built at Tsuneishi Shipbuilding Co.Ltd, Japan (Philippines facility) and three Kamsarmax Dry Bulk Carriers with Jiangsu New Yangzi Shipbuilding Co. Ltd.,China.