G E Shipping Buys Suezmax Crude Carrier

G E Shipping Mumbai-based Great Eastern Shipping (G E Shipping) has signed a contract to buy a 150,000 dwt Suezmax crude carrier. The company said that the 2000-built vessel is expected to join its fleet in the fourth quarter of fiscal year 2017. Earlier in December, G E Shipping took delivery of a secondhand Supramax dry bulk carrier Jag Radha, built in 2009. The 58,000 dwt vessel, previously known as Star Manx, was purchased from the Isle of Man-based shipping company LT Ugland Shipping in October 2016. Great Eastern Shippings fleet currently stands at 38 vessels, comprising 24 tankers and 14 dry bulk carriers, with an average age of 8.89 years. Additionally, the company has one newbuilding Kamsarmax on order and expects the delivery of two secondhand Aframaxes.