G E Shipping Buys Two Suezmax Tankers

zoomIllustration; Image Courtesy: G E Shipping Mumbai-based Great Eastern Shipping (G E Shipping) has inked contracts to buy two 157,000 dwt Suezmax crude carriers. The firm has not revealed the price and the seller of the two ships. The 2010 and 2011-built vessels are expected to join the companys fleet in the fourth quarter of fiscal year 2017. Last week, G E Shipping signed a contract to buy a 150,000 dwt Suezmax crude carrier which will be delivered to the company also in the fourth quarter of fiscal year 2017. The company’s current fleet stands at 38 vessels, comprising 24 tankers and 14 dry bulk carriers, with an average age of 9.89 years. Additionally, G E Shipping has two secondhand Aframaxes and one newbuilding Kamsarmax on order. Following the delivery of the six contracted vessels, the companys fleet will be comprised of 44 vessels.