Great Eastern Shipping Company (GE Shipping) has took delivery of its 318,000dwt very large crude carrier (VLCC) ‘Maneklal Ujamshi Sheth’ from Hyundai Heavy Industries (HHI), South Korea and subsequently delivered the vessel to its new buyers.
This vessel is one of the VLCCs which company had ordered at HHI in April 2010 and subsequently contracted to sell the same in Q1 FY12. The remaining 2 VLCCs will be delivered to the buyers between February and April 2012.
Following the delivery, the company’s current fleet stands at 34 vessels, comprising of 24 tankers (9 crude carriers, 14 product tankers, 1 LPG carrier) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.9 years aggregating 2.62 million dwt.
GE Shipping is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore. The shipping business includes transportation of crude oil, petroleum products, gas and dry bulk commodities, while the offshore business caters to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).
Company Name | CMP |
---|---|
Shipping Corpn. | 208.75 |
GE Shipping | 1000.15 |
Dredging Corp | 676.50 |
Shreyas Shipping | 252.05 |
Seamec | 1070.05 |
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