Financial Daily from THE HINDU group of publications
Wednesday, Apr 20, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 20, 2005 |
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Logistics
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Shipping GE Shipping signs deal to sell VLCC Our Bureau
Mumbai April 19 , GREAT Eastern Shipping has signed a contract to sell its very large crude carrier (VLCC), Vasant J. Sheth. The 1990 built, 2,61,167 dwt VLCC, which was acquired in November 2003, is scheduled to be delivered during the first quarter of 2005-06. A company press release said the sale is in line with the company's approach of continuously evaluating market opportunities for buying and selling of ships. The company's current fleet of 42 ships comprises 14 crude carriers, 17 product tankers, 2 gas carriers and 9 dry bulk carriers. Its offshore fleet of 31 vessels consists of 17 offshore supply vessels, two exploratory rigs, one construction barge and 11 harbour tugs. The company has 13 new building vessels on order with a committed capital expenditure of around $ 300 million.
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