Great Eastern Shipping to Sell Large Cargo Ship
India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end.
"The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement.
Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal, ores and other commodity material.
The company’s current fleet stands at 30 vessels comprising 21 tankers (8 crude carriers 12 product tankers 1 LPG carriers) and 9 dry bulk carriers (1 Capesize 3 Kamsarmax 5 Supramax) with an average age of 10 years aggregating 2.42 mn dwt. The current order book comprises 5 bulk carriers and 1 product tanker.
Its subsidiary firm Greatship (India) Limited recently bought a 2015-built platform supply vessel to be used mainly to supply offshore oil platforms.
The company, which mainly transports liquid, gas and solid bulk products, has a fleet of 30 vessels comprising 21 tankers and nine dry bulk carriers with an average age of 10.6 years.
