Mumbai: India's Great Eastern Shipping Company (GE Shipping) has signed a contract with an un-named buyer to sell its Korean built 107,592dwt Aframax tanker - Jag Leher. GE Shipping has been the owner of this 1986-constructed single hulled vessel for the past four years and is expected to complete delivery to its new buyers in Q3 FY 2007-08.
In a statement, the Mumbai headquartered company said, "The decision to sell this ship is in line with the company's overall strategy of exiting from non-double hull tanker fleet."
The company has been making a concerted effort to dispose of its single hull assets and has this year sold a Suezmax vessel ?" the Jag Laadki and its only VLCC, the Ardeshir H Bhiwandiwalla.
GE Shipping's current fleet of 46 ships of a total 3.22m dwt, with an average age of 12.2 years. The fleet consists of 13 crude tankers, 19 product carriers, two LPG carriers and 12 dry bulk carriers. [17/09/07]
Copyright © 2023. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
