Great Eastern Shipping Company has signed a contract to buy a second-hand long-range product carrier of about 105,258 deadweight tonnes.

Great Eastern Shipping to buy South Korean long-range product
Caption: Crude Oil Tanker Jag Lokesh - Image courtesy of RuudCoster (For illustrative purposes only)

The 2012 South Korean built vessel is expected to join the company’s fleet in the third quarter (October to December), it said in a statement on Friday.

The company’s current fleet stands at 46 vessels, comprising 33 tankers (11 crude carriers, 17 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 12.39 years aggregating 3.7 million deadweight tonnes.

Great Eastern Shipping has already contracted to sell its 1996 built very large gas carrier Jag Vidhi, which will be delivered to buyers in Q3. The company has also contracted to buy a very large gas carrier, which is expected to be delivered soon.

Source: ANI