G E Shipping contracts to buy a Medium Range Product Tanker
The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the Company’s fleet in Q2 FY17.
The Company’s current fleet stands at 33 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 10 dry bulk carriers (5 Kamsarmax, 5 Supramax) with an average age of 9.97 years aggregating 2.48 mn dwt. Additionally, the company has 3 Newbuilding Kamsarmaxes and 1 secondhand Capesize Bulk Carrier on order.
The Great Eastern Shipping Company Limited is India's largest private sector shipping company which mainly transports liquid, gas and solid bulk products. The company has two main business, shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business; services the oil companies in carrying out offshore exploration and production activities through its wholly owned subsidiary Greatship (India) Limited. The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV.