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Wednesday, April 24, 2024

Great Eastern Buys MR Tanker

Maritime Activity Reports, Inc.

February 26, 2024

© Prapat / Adobe Stock

© Prapat / Adobe Stock

The Great Eastern Shipping Company Limited announced it has contracted to buy a medium range (MR) product tanker of about 49,999 dwt on February 14, 2024. The 2010-built vessel is expected to join the company’s fleet by Q1 FY25.

The proposed ship will be financed entirely from internal accruals, the Mumbai-based company said, noting that the purchase is part of a wider effort to modernize and expand its fleet.

Excluding the newly acquired vessel, the company’s current fleet stands at 42 vessels, comprising 28 tankers (six crude carriers, 18 product tankers, four LPG carriers) and 14 dry bulk carriers aggregating 3.36 million dwt. The company said its current capacity utilization is close to 100%.

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