GE Shipping contracts to sell another product tanker

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company has signed a contract to sell a 66,183 dwt non-double hull Panamax product carrier "Jag Arpan". The Company acquired the 1986 built vessel in March 2003. The vessel is most likely to be delivered to the buyers during Q4 FY 2008.

The Company on January 10, 2008 had contracted to sell "Jag Anjali" (sister ship of "Jag Arpan"), a non-double hull Panamax product carrier, whose delivery is expected in Q4 FY08. The conscious decision to sell these ships is in line with the Company's overall strategy of reducing its presence in the non-double hull tanker fleet.

The Company's current fleet stands at 47 vessels, comprising 34 tankers (12 crude carriers, 20 product carriers, 2 LPG carriers) and 13 drybulk carriers (1 Capesize, 2 Panamax, 1 Supramax, 6 Handymax, 3 Handysize) with an average age of 10.7 years aggregating 3.14 mn dwt.

GE Shipping takes delivery of new vessel

Great Eastern Shipping Company Ltd (GE Shipping) has announced that Greatship (India) Ltd (GIL), a wholly owned subsidiary of the Company took delivery of new-built Anchor Handling Tug cum Supply Vessel (AHTSV). The AHTSV, named "Greatship Anjali", which was contracted by GIL in August 2006, is a DP2 vessel with bollard pull of 85 tons.

With the delivery of "Greatship Anjali", the Company now has a fleet of 3 PSV's and 1 AHTSV in the water.

GIL along with its subsidiaries has a new building orderbook of 2 PSV's, 6 Multipurpose Platform Supply & Support Vessels, 2 MSVs, 7 AHTSV's and a 350 ft Jack up Rig.

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).

GE Shipping places order for bulk carries

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company has placed an order for 2 new building Supramax Dry Bulk Carriers. These vessels (of approx 57,000 dwt each) are being built at the Cosco (Zhoushan) Shipyard Co. Ltd, and are expected to join the Company's fleet during Q4 FY 2009-10.

The objective of ordering these dry bulk vessels is with a view to enhance tonnage and participate in the increasing opportunities in the dry bulk commodities trade. In line with the same view, the Company had contracted to buy 2 new building Kamsarmax dry bulk carriers in Oct' 07, which are expected to join the Company's fleet in Q4 FY10-11 & Q1 FY11 - 12 respectively.

With this contract, the Company's current new building order book comprises 8 vessels aggregating 0.57 mn dwt (4 LRI product tankers aggregating 0.30 Mn dwt & 4 dry bulk carriers aggregating 0.27 mn dwt).

GE Shipping upgrades vessels

Great Eastern Shipping Company Ltd (GE Shipping) has informed that Greatship Global Offshore Services Pte. Ltd., the wholly owned subsidiary of Greatship (India) Ltd, has announced upgradation of the two Multi Purpose Platform Supply & Support Vessels ordered on Mazgaon Dock Ltd to Multi Support Vessels (MSVs).

Greatship (India) Ltd is a wholly owned subsidiary of the Company.

In this regard the following press release as follows:

Greatship Global Offshore Services Pte. Ltd., the wholly owned subsidiary of Greatship (India) Ltd (GIL), has announced the upgradation of the two vessels ordered on Mazagon Dock Ltd to Multi Support Vessels (MSVs). As previously announced, the Company had contracted two Multi Purpose Platform Supply & Support Vessels (MT6012 design) to be delivered in the third and fourth quarters of 2009-10. These vessels were designed for operating in deep waters (1000 - 3500 metres water depth), supplying and supporting complex exploration and production operations far away from shore.

Now, these vessels have been upgraded to MT6012 Mark II design. Each will be equipped with a 100 Ton active heave compensation offshore crane, a helideck, increased accommodation (100 pax), a moonpool (for diving and ROV services) and be prepared for FiFi 1 & 2. With these enhancements, the vessels will become part of an exclusive and limited global fleet of MSVs capable of multiple operations and outputs.

This upgradation has been done with the objective of tapping the burgeoning sub-sea construction markets, both globally as well as in India. MSVs play a critical role in new construction and in maintenance of various offshore assets and equipment, and will see increasing demand as the world moves further offshore (into deeper and distant waters) in search of new reserves of oil and gas.

GIL currently own and operate three PSVs, two in India and one in the North Sea. GIL, along with its subsidiaries, also has an order book of sixteen vessels and one rig under construction - two PSVs in Norway, four AHTSVs in Sri Lanka, four AHTSVs and four MPSVs in Singapore, these two MSVs in India and a premium 350' jack up rig in Singapore.

GE Shipping delivers its single hull Aframax tanker to buyers

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company on November 13, 2007 delivered its single hull Aframax crude tanker "Jag Labh" to the buyers. The 1988 Japanese built 96,551 dwt ship was contracted to be sold in September 2007.

With the delivery of this vessel, the Company's current fleet stands at 47 vessels, comprising 34 tankers (12 crude carriers, 20 product carriers, 2 LPG carriers) and 13 drybulk carriers (Capesize, 2 Panamax, 1 Supramax, 6 Handymax, 3 Handysize) with an average age of 10.7 years aggregating 3.14 mn dwt.

GE Shipping delivers Aframax Crude Carrier Jag Leher

Great Eastern Shipping Company Ltd (G E Shipping) has informed that the Company has delivered its Aframax crude carrier "Jag Leher" to the buyers. The 1986 built 107,592 dwt ship was contracted to be sold in September 2007.

In this regards the Company has issued following press release :

"The Great Eastern Shipping Company Ltd (G E Shipping) delivered its Aframax crude carrier "Jag Leher" to the buyers. The 1986 built 107,592 dwt ship was contracted to be sold in September 2007.

With the delivery of the vessel, the Company’s current fleet stands at 48 vessels comprising 35 tankers (13 crude carriers, 20 crude carriers; 2 LPG carriers) and 13 dry bulk carriers (1 Capesize, 2 Panamax, 1 Supramax, 6 Handymax, 3 Handysize) with an average age of 10.9 years aggregating 3.24 mn dwt.

GE Shipping buying carries

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company 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 Q4 2010-11 and Q1 2011-12 respectively.

The Company's decision to acquire the bulk carriers is aimed at augmenting its 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, 2 LPG carriers) and 12 dry bulk carriers with an average age of 11.3 years aggregating 3.29 mn dwt.

With this order, the Company's new building order book stands at 6 vessels aggregating 0.46 mn dwt (4 LR1 Product Tankers aggregating 0.30 mn dwt & 2 Kamsarmax Bulk Carriers aggregating 0.16 mn dwt).

GE Shipping

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company took delivery of its new building Medium Range (MR) Product Tanker "Jag Prerana". The 47,400 dwt double hull MR Product Tanker was built at STX Shipping Co. Ltd, Korea.

With this, the Company's fleet of 48 vessels comprises 36 tankers (14 crude carriers, 20 product tankers, 2 LPG carriers) and 12 dry bulk carriers with an average age of 11.3 years aggregating 3.29 mn dwt.

The Company's current new building order book comprises 4 LR1 Product Tankers aggregating 0.30 mn dwt.

Great Eastern Shipping Company

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company on September 27, 2007, has delivered its single hull VLCC "Ardeshir H Bhiwandiwalla" to the buyers. The 1992 built 266,955 dwt VLCC was contracted to be sold in June 2007.

With the delivery of this vessel, the Company's current fleet now stands at 47 vessels (14 crude carriers, 19 product carriers, 2 LPG carriers and 12 drybulk carriers) with an average age of 11.5 years aggregating age of 3.24 mn dwt.

Great Eastern Shipping Company Ltd

Great Eastern Shipping Company Ltd (GE Shipping) has informed that Greatship (India) Ltd (GIL) a wholly owned subsidiary of the Company has taken delivery of a 2005 built modern Platform Supply Vessel (PSV). The PSV now named "Greatship Dipti" was contracted by
GIL in September 2006.

In this regards the Company has issued following Press Release :

"Greatship (India) Ltd (GIL), a wholly owned subsidiary of Great Eastern Shipping
Company Ltd took delivery of a 2005 built modern Platform Supply Vessel (PSV). The
PSV now named "Greatship Dipti" is a state of the art vessel of UT 755 LN design equipped
with DP2 capabilities and was contracted by GIL in September 2006.

With the delivery of "Greatship Dipti", the Company now has a fleet of 3 PSV's in the water. GIL along with its subsidiaries has a new building order book of 2 PSV's, 4 Multipurpose Platform Supply & Support Vessels 8 AHTSV's and a 350 ft Jack up Rig."

Great Eastern Shipping Company

Great Eastern Shipping Company Ltd (GE Shipping) has informed that the Company took delivery of 147,000 dwt, 2000 built modern double hull Suezmax Tanker. Now named 'Jag Lakshita', the vessel was contracted in June 2007.

The rationale behind the purchase of a modern double hull Suezmax Tanker is to increase and modernize the Crude Tanker fleet. In line with this view, the Company took delivery of another modern double hull Suezmax Tanker 'Jag Lateef' last week.

With the induction of 'Jag Lakshita', the Company's current fleet now stands at 48 vessels (15 crude carriers, 19 product carriers, 2 LPG carriers and 12 drybulk carriers) with an average age of 11.8 years aggregating 3.51 mn dwt.