G E Shipping delivers its third VLCC to the buyers

Mumbai, 9 May 2012

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its 318,000 dwt Very Large Crude Carrier (VLCC) “Vasant J Sheth” from Hyundai Heavy Industries Ltd, (HHI) South Korea today and subsequently delivered the vessel to its new buyers.

This is the last vessel out of the 3 VLCCs which the Company had ordered at HHI in April 2010 and subsequently contracted to sell in Q1 FY12.

The Company’s current fleet stands at 34 vessels, comprising 24 tankers (9 crude carriers, 14 product carriers, 1 LPG carrier) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.9 years aggregating 2.62 mn dwt.

Great Eastern Shipping Co Ltd. (GE Shipping) press release