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Our Bureau

Mumbai , June 29

GREAT Eastern Shipping Company, the country's largest fleet owner in the private sector, on Monday took delivery of a 1992-built, 2.65-lakh-dwt very large crude carrier (VLCC), which was contracted in May 2004.

The vessel is renamed `Ardeshir H Bhiwandiwalla,' after the name of the company's first chairman the late A.H. Bhiwandiwalla.

This is the company's second VLCC. The company is toying with the idea of acquiring a third VLCC, in the light of the firm VLCC freight rates projected for the current fiscal.

Also, Indian oil companies are increasingly looking at moving oil in larger parcels to gain economic mileage. The company's current order book comprises 11 new building vessels, viz. six tankers and five OSVs, with deliveries starting from August 2004 till September 2007 at intermittent intervals.

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