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GE Shipping to sell Panamax carrier

GE Shipping to sell Panamax carrier

Mumbai: India's Great Eastern Shipping Company has signed an agreement to sell its 2007-acquired 73,350dwt Panamax dry bulk carrier Jag Akshay for an undisclosed sum. The 1994 built vessel, will be delivered to its un-named buyers in the first quarter of 2008/09.

In a statement the company said, "this sale was done to capitalize on the high premiums in the second hand dry bulk prices, which are currently at record highs."

GE Shipping currently has a fleet of 47 vessels comprising 34 tankers and 13 dry bulk carriers.  [08/01/08]