GE Shipping buys Suezmax tanker

Source: India Times

MUMBAI: Great Eastern Shipping has signed a contract to buy a modern double hull Suezmax tanker, which is expected to join the company’s fleet by the second quarter of 2007-08.

The Suezmax tanker will enhance and modernise the crude tanker fleet. Additionally, a double hull Suezmax crude carrier earlier contracted in the first quarter of 2007-08 is also due for delivery during the second quarter.

GE Shipping’s current fleet comprises 46 ships with an average age of 12.2 years, aggregating 3.22 million deadweight tonnes. Besides this, the company's building order book comprises five product tankers, which will be delivered during the next two years.

At 3:18 pm, the stock was down 0.53% at Rs 339.70. Intra-day, the stock rose to a high of Rs 347.75 and low of Rs 338 with volume traded at 99,080 against two-week average of 3,20,645 shares.