Great Eastern Shipping Company Ltd (GE Shipping) had, in March 2010, signed a contract with Hyundai Heavy Industries Ltd (HHI), South Korea, for the construction of three very large crude carriers (VLCCs) of 318,000 DWT each. These vessels were scheduled to be delivered between January and April 2012, Exim News Service reports.
The company has now entered into a contract to sell en bloc these three VLCCs. They will be delivered to the new buyer immediately upon receipt from the yard.
With the exit from this contract, GE Shipping's current newbuilding order comes down to 3 dry bulk carriers (1 Supramax and 2 Kamsarmaxes).