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GE Shipping to buy general purpose product tanker

29 Nov 2010 Evaluate

Great Eastern Shipping Company (has signed a contract to buy a general purpose product tanker. The 1991 built ship (of about 28,600 DWT) is expected to join the company's fleet during the third quarter of 2010-11. GE Shipping at present has a fleet of 32 vessels, which includes 27 tankers and 5 dry bulk carriers aggregating 2.49 million DWT.

Early this month, the company had said that its subsidiary -- Greatship (India) -- had received market regulator Sebi's nod for its initial public offering. The company is aiming to raise about Rs 400-450 crore through the issue.crackcrack

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