Great Eastern re-enters VLCC business

Mumbai: Great Eastern Shipping has modified a double suezmax order at Hyundai Heavy Industries into a trio of VLCCs.

The private Indian firm ordered the suezmaxes at the height of the price scale back in June 2008 but has now successfully renegotiated for a series of 318,000 dwt ships to be delivered by April 2012.

The order marks a return to VLCC ownership for Great Eastern, which sold its last single hulled supertanker two years ago. No prices were mentioned by Great Eastern in this order rejig.

(Source: www.schednet.com)