GE Shipping places order for 2 Supramax carriers with Cosco

MUMBAI: Great Eastern Shipping Company has entered into a contract with Cosco Shipyard for two more new building Supramax dry bulk carriers. The vessels have capacity of 57,000 DWT each and are expected to join the company's fleet during first and second quarter of 2010-11 respectively.

Sensing sustainable growth in dry bulk trade in the medium term, the company in November contracted two new building Supramax dry bulk carriers of similar specifications with Cosco (Zhoushan) Shipyard. These vessels will join the company's fleet in Q4 FY 2009-10. With this contract, the company's new building order book comprises 10 vessels aggregating 0.69 million DWT. At 1:08 pm, Great Eastern Shipping shares were up 4.66 per cent at Rs 515.75 on BSE,