GE Shipping buys secondhand supramax bulker

The 2006-built bulker is scheduled to join the Indian company’s fleet in September-October this year. Financial details of the deal were not disclosed.

Mumbai-based GE Shipping recently announced a plan to invest up to INR24bn ($400m) by March 2017 to acquire newbuildings in the dry bulk and tanker sectors, and a jack-up rig.

At present, the company has six newbuildings on order, comprising five bulk carriers and one product tanker.

GE Shipping’s fleet stands at 30 vessels comprising of tankers and bulkers with an average age of 10 years totalling 2.42m dwt.