G E Shipping to Acquire Two Aframax Tankers

Great Eastern Shipping Company Mumbai-based Great Eastern Shipping Company (G E Shipping) has inked a contract to buy two Aframax crude carriers of about 105,000 dwt each.  The 2011 and 2012-built vessels are expected to join the company’s fleet by the fourth quarter of the 2017 fiscal year, G E Shipping said. The company said its current fleet stands at 37 vessels, comprising 24 tankers and 13 dry bulk carriers with an average age of 8.93 years aggregating 2.88 million dwt. Market value of G E Shippings current fleet is USD 620 million, according to data provided by VesselsValue. Additionally, the company has 1 newbuilding Kamsarmax and a 2009-built Supramax on order. Following the delivery of the 4 contracted vessels, the company said its fleet will be comprised of 41 ships.