The Hindu Business Line : GE Shipping arm to buy 2 vessels

Greatship (India) Ltd, a wholly-owned subsidiary of GE Shipping, has signed a contract for buying two new-building anchor handling tug-cum supply vessels.

The 80-tonne vessels, which have been ordered with Colombo Dockyard Ltd, are scheduled to be delivered in the third and four quarters of 2007-08.

This brings the total order book of GIL to five offshore supply vessels and one second-hand platform supply vessel, aggregating about $103 million.

Last week, GE Shipping had signed a contract to buy a 1.47-lakh-dwt (dead weight tonnage) Suezmax crude carrier. The 1996-built double-hull tanker is expected to join the company's fleet in the third quarter of 2006-07.

The company's decision to induct this vessel is in tune with its objective of enhancing its double-hull tonnage, apart from building a modern Suezmax fleet.

After this delivery, the crude tonnage of the company will stand at 15 ships, aggregating 1.95 million dwt.

The company's present fleet of 74 vessels comprises 40 ships (31 tankers and nine drybulk carriers), aggregating 2.87 million dwt, and 34 offshore vessels.

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