GE Shipping signs contract to sell VLCC

Great Eastern Shipping Company (GE Shipping) has signed a contract to sell its VLCC "Vasant J Sheth".

According to a release issued by GE Shipping to the BSE, the VLCC, which was acquired in November 2003, is scheduled to be delivered during the first quarter of FY 05-06.

The release said that the sale is in line with the company's approach of continuously evaluating market opportunities for buying and selling of ships.