GE Shipping - New building order placed for 2 more Supramax Dry Bulk Carriers

Great Eastern Shipping Company Ltd (GE Shipping) has informed that the Company has signed a contract with Cosco (Zhoushan) Shipyard Co. Ltd for 2 more new building Supramax Dry Bulk Carriers. These vessels of approximately 57,000 dwt each are expected to join the Company's fleet during 01 FY 2010-11 & Q2 FY 2010-11 respectively.

Sensing sustainable growth in the dry bulk trade in the medium term, the Company in November'07 had contracted 2 new building Supramax dry bulk carriers of similar specifications as above with Cosco (Zhoushan) Shipyard Co. Ltd. These vessels will join the Company's fleet in Q4 FY 2009-10.

With this contract, the Company's new building order book comprises 10 vessels aggregating 0.69 mn dwt (4 LR1 product tankers aggregating 0.30 mn dwt & 6 dry bulk carriers aggregating 0.39 mn dwt).