G E Shipping contracts to sell two oldest Suezmax crude carriers

The Great Eastern Shipping Company Limited (G E Shipping) on Friday said it has contracted to sell its two oldest Suezmax crude carriers 'Jag Lateef' and 'Jag Laadki'.

The Great Eastern Shipping Company Limited (G E Shipping) on Friday said it has contracted to sell its two oldest Suezmax crude carriers 'Jag Lateef' and 'Jag Laadki'. The company has "contracted to sell its 2000-built Suezmax Crude Carriers, Jag Lateef and Jag Laadki of about 1,47,080 dwt (deadweight tonnage) and about 150,284 dwt, respectively," it said in a BSE filing.

The vessels will be delivered to the new buyers in the second half of FY21. 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. The company has also contracted to buy a secondhand capesize bulk carrier which is expected to be delivered in second half of 2020-21.

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