GE Shipping to buy Handymax Dry Bulk

New Delhi, Mar 14 (UNI) Great Eastern Shipping Company Ltd today said it has signed a contract to buy a 47,240 dwt Handymax Dry Bulk Carrier.

The company will acquire the vessel to modernise and grow the dry bulk fleet to participate in the emerging opportunities in the dry bulk trade.

The 1997 built ship is expected to join the company's fleet during Q1 FY 2007-08.

The company's current fleet of 42 vessels comprises 32 tankers (14 crude oil carriers, 16 product carriers, and two LPG carriers) and 10 drybulk carriers (one capesize, one panamax, five handymax and three handysize) with an average age of 12.9 years aggregating 3.11 Mn dwt.

GE Shipping's new building order book comprises eight product tankers (four medium range and four LRI product tankers aggregating 0.47 Mn dwt).

UNI