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GE Shipping Adds Suezmax Tanker
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Source:World Maritime News

Mumbai-based Great Eastern Shipping Company (GE Shipping) has taken delivery of Jag Leena, a secondhand Suezmax crude carrier.

In December 2016, the company inked contracts with Panama-based Bretta Tanker Holdings to buy two vessels including Jag Leena.

Jag Leena, previously known as Eugenie, was purchased for US$36.4m, according to data provided by VesselsValue.

The 157,700dwt tanker was built by South Korean shipbuilder Samsung Heavy Industries (SHI) in 2010.

Including Jag Leena, GE Shipping's fleet currently stands at 43 vessels, comprising 28 tankers and 15 dry bulk carriers with an average age of 9.56 years and a total tonnage 3.54 million dwt. In addition, the company intends to purchase one secondhand Suezmax.

The announcement comes on the back of the company's financial results for the quarter ended Dec. 31, 2016, which show that GE Shipping delivered a net income of INR238.36 crores (around US$36.3m), lower from a net income of INR358.13 crores (US$54.6m) seen in the same period of 2015.

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