GE Shipping to purchase Product Tanker

New Delhi, Dec 7: GE Shipping today said it has signed a contract to buy a 29,998 dwt Product Tanker, with an objective to participate in the emerging opportunities in the product trade.

The ship is expected to join the company's fleet during the fourth quarter of this fiscal.

The company's current fleet of 40 vessels comprises 31 tankers (14 crude oil carriers, 15 product carriers, and two LPG carriers) and nine drybulk carriers (one panamax, five handymax and three handysize) with an average age of 12.3 years aggregating 2.92 million dwt.

Its current new building order book comprises nine Product Tankers (five Medium Range and four LR1 Product tankers aggregating 0.51 million dwt).

UNI