Mumbai, Sep 27 (UNI) The Great Eastern Shipping Company (GE Shipping) has signed a contract to sell its 1988 built single hull Aframax tanker ''Jag Labh''.
This Japanese built ship of 96,551 depd weight tonnage (dwt) was acquired in February 2005. The ship is scheduled for delivery to buyers in third quarter of the fiscal year 2007-08.
The decision to sell this ship is in line with the Company's overall strategy of reducing its presence in the non-double hull tanker fleet. In line with the same view, the Company had sold the ''Jag Laadki'' (Suezmax), ''Ardeshir H Bhiwandiwalla'' (VLCC) and ''Jag Leher'' (Aframax) earlier this year.
The Company's current fleet of 48 ships, aggregating 3.51 mn dwt has an average age of 11.8 years and comprises 15 crude tankers, 19 product carriers, 2 LPG carriers and 12 dry bulk carriers, a company release said.