GE ships out tanker

India’s Great Eastern Shipping is selling its oldest tanker for scrap.

GE has sold the 28,600-dwt Jag Prachi (built 1991) for demolition on the beaches of its homeland, it is claimed.

A price of $484 per ldt has been placed on the Ukraine built tanker, which GMS says in a decent figure.

The cash buyer suggests the ship may eventually be scrapped in Pakistan or Bangladesh, depending on its gas free status and the economics of the final deal.

Data from VesselsValue.com shows GE to have three other 1990s built tankers in its mixed fleet of more than 30 vessels.

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