AsiaDry Cargo

Great Eastern plays the bulker S&P markets

India’s Great Eastern Shipping continues to make waves in S&P, sealing one deal after another.

The latest deal involves selling the 16-year-old Jag Rohan for $10m, according to brokers, a ship it bought for a million less as Tenshou Maru in March 2017.

Great Eastern has been active this year, attempting to find the right way forward. Its latest move comes only weeks apart from its last purchase. Then it snapped up a 2013-built Japanese supramax bulker for $15m.

Great Eastern’s bulker arm is taking shape. It started the year taking delivery of a seven-year-old cape, now Jag Alaia, ex True Dream, from Defender Holding. The company now has 14 bulk carriers in its fleet.

Earlier this year Great Eastern Shipping was reported showing an interest in government-owned Shipping Corporation of India (SCI), a deal that would include 15 more dry bulk carriers.

Currently Great Eastern has a fleet of 46 vessels according to VesselsValue, made up of 14 bulkers, 27 tankers, and five gas carriers.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
Back to top button