Business Daily from THE HINDU group of publications
Saturday, October 13, 2007
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Business Daily from THE HINDU group of publications Saturday, October 13, 2007 |
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News Update as at 18.00 hrs (IST)
Logistics GE Shipping to buy 2 Kamsarmax dry bulk carriers CHENNAI: Great Eastern Shipping Company Ltd (GE Shipping) has announced that it has contracted to buy two new building Kamsarmax dry bulk carriers. These vessels, of approximately 80,700 DWT each, are expected to join the company's fleet during the last quarter of 2010-11 and firt quarter of 2011-12 respectively. The decision to acquire the bulk carriers is aimed at augmenting the dry bulk fleet and at participating in the strong demand projected in the bulk commodities in the medium term. The company's current fleet stands at 48 vessels, comprising 36 tankers (14 crude carriers, 20 product tankers and two LPG carriers) and 12 dry bulk carriers with an average age of 11.3 years aggregating 3.29 million DWT. - Our Bureau
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