GE Shipping ends deal

Great Eastern Shipping Co. Ltd (GE Shipping), which had signed a contract to sell Jag Rahul, a Supramax dry bulk carrier in December 2008, has terminated the contract, Exim News Service reported.

The 2003-built, 52,364-DWT vessel was to be delivered to the buyers latest by this month-end.

The sale of the vessel will not be concluded on account of buyer’s default, a GE Shipping release said. The vessel will continue to be a part of the company’s fleet, which currently stands at 41 vessels.

Source: Transport Weekly