GE Shipping contracts to buy VLGC

The Great Eastern Shipping Company Ltd (GE Shipping) has signed a contract to buy a very large gas carrier (VLGC) of about 49,700 DWT (75,000 cbm). The 1990-built vessel is expected to join its fleet during Q2 FY2013.

The company's current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax), with an average age of 8.7 years aggregating 2.55 million DWT.

Source : Exim News Service - MUMBAI, July 5