Great Eastern Shipping snaps up another MR in renewal push

Indian owner Great Eastern Shipping has continued its product tanker fleet renewal programme with the acquisition of a 2013-built MR.

The Mumbai-listed diversified owner said the unnamed 49,990 dwt ship should deliver by the end of September at an undisclosed price.

Great Eastern has been busy rejuvenating its tanker fleet this year with several deals that saw older tonnage being sold and replaced by younger models.

The company most recently sold its 2004-built 48,700 dwt MR, Jag Pranam, without disclosing financial terms surrounding the deal.

Once all transactions are closed, Great Eastern will have 43 vessels. The fleet comprises a mix of nearly fully-utilised 29 crude and product carriers, four LPG carriers and 14 bulkers.

source : splash247