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Great Eastern announces bonds issue

Mumbai: Great Eastern Shipping is likely to raise 1bn rupees via an issue of 12-year bonds later this week. "We have a bond issue in the market which is being floated currently," chief financial officer G. Shivakumar told Reuters on Tuesday. Great Eastern will use the capital to expand its fleet. Currently the company has 32 ships, including 27 tankers and 5 dry bulk carriers. ?Separately, the company said in a statement on Tuesday Greatship Global Offshore Services, a Singapore incorporated subsidiary of its unit Greatship (India) Ltd, has placed an order for one construction support vessel. ?The order has been placed with Colombo Dockyard Ltd and the vessel is due for delivery in the second quarter of the year 2013. [05/01/11]

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