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Our Bureau

Mumbai , March 7

GREAT Eastern Shipping has signed a contract to buy a 2003 Handymax dry bulk carrier of about 52,000 DWT, as part of its plans to consolidate its presence in the dry bulk trade.

Last month, the company had signed a contract to buy a 1997-built Handymax dry bulk carrier. Both the vessels will be delivered to the company in the first quarter of the next fiscal.

At present, the company has 71 vessels, comprising 41 ships and 30 offshore assets. Its new building order book stands at 15 vessels, comprising seven tankers and eight offshore vessels.

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