GE Shipping to buy Panamax dry bulk carrier

New Delhi, Dec 20 (UNI) With a view to build a modern tonnage to participate in the growing dry bulk trade, GE Shipping Company Ltd today said it will acquire a new 73,350 dwt geared Panamax Dry Bulk Carrier by March-end next year.

The agreement in this regard was signed today, a company statement issued here today said.

The carrier is in addition to the recently contracted Capesize, which is also expected to join the fleet during the same period.

The company's current fleet of 40 vessels comprises 31 Tankers (14 Crude Oil Carriers, 15 Product Carriers, and 2 LPG Carriers) and 9 Dry Bulk Carriers (1 Panamax, 5 Handymax and 3 Handysize) with an average age of 12.3 years aggregating 2.92 million dwt.

Its current new building order book comprises nine product tankers (5 Medium Range and 4 LR1 Product Tankers aggregating 0.51 million dwt) to be delivered intermittently over the next two and half years.

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