Great Eastern Shipping Company Ltd (GE Shipping) on Wednesday announced it has contracted to buy a modern Supramax dry bulk carrier.
"The 2001 built ship of about 52,179 dwt (deadweight tonnage) is expected to join the company's fleet during Q3 FY 2007-08," the shipping and offshore service provider said in a filing to the Bombay Stock Exchange.
GE Shipping planned to purchase this ship to consolidate its dry bulk segment and to participate in the increasing opportunities arising out of strong global commodity demand.
The company's current fleet of 46 ships with an average age of 12.2 years aggregates to 3.22 mn dwt. The new building order book comprises five product tankers to be delivered in the next two years.
(Source: Economic Times)
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