New Delhi, Sep 27 (UNI) Great Eastern Shipping Co Ltd today said it has signed a contract to sell its single-hull Aframax tanker 'Jag Labh'.
The ship is scheduled to be delivered to the buyers in the third quarter of the current fiscal, company said in a statement.
The Japanese built ship of 96,551 dwt was acquired in February 2005.
The decision to sell the ship is in line with the company's overall strategy of reducing its presence in the non-double hull tanker fleet.
The company's current fleet of 48 ships, aggregating 3.51 million 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.