GESHIPPING

Great Eastern Shipping Co. Ltd. has informed the Exchange that the Company has taken delivery of a newbuilding Medium Range (MR) product carrier, the 17th product carrier in its fleet. The 46,319 dwt tanker was ordered in February 2003 and built at Hanjin Heavy Industries & Construction Co. Ltd., South Korea. With the inclusion of 'Jag Pahel', the company's fleet size increased to 72 vessels comprising 40 ships aggregating 2.85 Mn dwt and 32 offshore vessels. The Company's tanker fleet, which forms around 88% of its shipping tonnage, has an average of 12.6 years as against the global average a

Great Eastern Shipping Co. Ltd. has informed the Exchange that to meet the industry requirements, GE Shipping is rejuvenating its offshore fleet profile and has sold two Offshore Supply Vessels - Malaviya Eleven and Malaviya Fourteen. Both the vessels were built at Greenbay Marine Pte Limited, Singapore in 1989. The offshore division's fleet now stands at 30 vessels with the company's total fleet size at 70 vessels. The company also has 13 new building vessels on order.

Great Eastern Shipping Co. Ltd. has informed the Exchange that they have ordered two Platform Supply Vessels (PSVs) with Aker Brattvaag, Norway. The UT 755 L design PSVs are expected to be delivered in 2006-07. With this, the company's order book stands at 14 vessels - 8 offshore support vessels with deliveries commencing from January 2005 and 6 tankers with deliveries commencing from October 2004. The Company's current fleet of 71 vessels includes 39 ships (30 tankers and 9 drybulk carriers) and 32 offshore vessels (2 exploratory rigs, 18 offshore support vessels, a construction barge and 11