G E Shipping Offloads Supramax

India-based Great Eastern Shipping Company Limited (G E Shipping) has decided to sell Jag Rahul, one of its Supramax bulk carriers. 

The shipping company said it has signed a contract with an unnamed party to dispose of the 52,364 dwt vessel.

As informed, Jag Rahul will be delivered to the new buyer in Q4 FY 2017/18.

Although the price of the vessel was not disclosed, VesselsValue’s data shows it has a market value of USD 8.17 million.

Built at Tsuneishi Cebu shipyard in the Philippines in 2003, the ship is one of the oldest bulkers in the company’s fleet.

Currently, G E Shipping’s fleet stands at 48 vessels, comprising 32 tankers and 16 dry bulk carriers with an average age of 10.24 years aggregating 3.93 million dwt.