GE Shipping to sell its two oldest Suezmax Crude Carriers “Jag Lateef” and “Jag Laadki” in H2FY21

The company has also contracted to buy a Secondhand Capesize Bulk Carrier which is expected to be delivered in H2 FY 2020-21.

Nov 27, 2020 11:11 IST India Infoline News Service

GE Shipping
The Great Eastern Shipping Company Limited (G E Shipping) has informed the exchanges that it has contracted to sell its 2,000 built Suezmax Crude Carriers, Jag Lateef and Jag Laadki of about 1,47,080 dwt and about 1,50,284 dwt respectively.

The vessels will be delivered to the new buyers in H2 FY 2020-21.

The Company’s current fleet stands at 47 vessels, comprising 34 tankers (11 crude carriers, 18 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 12.48 years aggregating 3.80 mn dwt. The company has also contracted to buy a Secondhand Capesize Bulk Carrier which is expected to be delivered in H2 FY 2020-21.

GE Shipping ended at Rs256 per piece up by Rs5.8 or 2.32% from its previous closing on the BSE.

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