GE Shipping signs contract to sell ‘Jag Padma’ MR product tanker

The Great Eastern Shipping Company (G E Shipping) has signed a contract to sell ‘Jag Padma’, a Medium Range (MR) product tanker. The 1996 built vessel of about 47,172 dwt will be delivered to the buyers in May 2014. Including ‘Jag Padma’, the Company's current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 13 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 10 years aggregating 2.42 mn dwt. Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.