GE Shipping inks contract to sell general purpose product tanker

Great Eastern Shipping Company (GE Shipping) has signed a contract to sell, a 1991-built General Purpose Product Tanker ‘Jag Prachi’ with 28,610 dwt. The vessel will be delivered to buyers in September-October 2014.

The company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 12 product tankers, 2 LPG carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax) with an average age of 10 years aggregating 2.42 million dwt.

Last month, the company signed a contract to sell one of its two gas carriers which is scheduled for delivery in H2 2014. The company has 6 new buildings on order, comprising 5 dry bulk carriers and 1 product tanker.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.