GE Shipping to acquire double-hull Suezmax crude carrier

Our Corporate Bureau
17 August 2006

Great Eastern Shipping Company Ltd (GE Shipping) has signed a contract to buy a 147,834 dead weight tonnes (dwt), modern Suezmax crude carrier. The 1996 built double-hull tanker is expected to join the company's fleet during Q3 FY 2006-07.

GE Shipping's decision to induct the new vessel would enable the company to enhance its double hull tonnage apart from building a modern Suezmax fleet.

With this delivery, GE Shipping's crude tonnage will stand at 15 ships aggregating 1.95 million dwt. It already has a fleet of 74 vessels — 40 ships (31 tankers and nine dry bulk carriers) aggregating 2.87 mn dwt and 34 offshore vessels (two exploratory rigs, 20 OSVs. 11 harbour tugs and a construction barge).

The company's new building order book comprises five medium range and 4 LR1 product tankers (aggregating 0.51 million dwt) and five offshore supply vesssels (four AHTSVs and one PSV).