Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company has contracted to sell its Handysize dry bulk carrier “Jag Vikas” (1977 built, 26,781 dwt). The ship is scheduled to be delivered to the buyers during Q1 FY2008-09.

The Company’s decision to sell the ship was guided by the age/valuation of the ship.

The Company’s current fleet stands at 46 vessels, comprising 33 tankers (12 crude carriers, 19 product carriers, 2 LPG carriers) and 13 drybulk carriers (1 Capesize, 2 Panamax, 2 Supramax, 5 Handymax, 3 Handysize) with an average age of 10.4 years aggregating 3.07 mn dwt.