Sunday, August 29, 2010: 01:28:37 PM

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GE Shipping sells another single-hull tanker

Great Eastern Shipping has shed another of its single-hulled tankers with the company delivering its 50,600-dwt Jag Pranam (built 1986) to its buyer.  According to reports, the ship which was hit by pirates off Singapore in 2003  was sold in Kakinda for $435 per ldt, or $4.4m. The company bought the ship in 1996 for $19.7m.

The company has been busy scrapping its single-hull tankers this year, having previously sold the 27,400-dwt Jag Palak (built 1985) and 50,600-dwt Jag Pavitra (built 1985).

With the delivery of the vessel, its current fleet stands at 34 vessels, comprising 28 tankers and 6 drybulk carriers (1 Capesize, 1 Panamax, 2 Supramax, 1 Handymax, 1 Handysize) with an average age of 10.2 years aggregating 2.61 mn dwt.

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