GE Shipping Subsidiary to Buy Four AHTSVs

Great Eastern Shipping Company

Great Eastern Shipping Company Ltd reports that Greatship (India) Ltd (GIL) a wholly owned subsidiary of the Company has contracted to buy four nos 80T Anchor Handling Tug and Supply Vessels (AHTSV) being built by Labroy Shipbuilding & Engineering Pte Ltd., Singapore. The vessels are expected to join the Company's fleet immediately on delivery from the yard during H1 CY2009.

This brings the current order book of GIL including the secondhand acquisitions to 10 OSVs - 8 new buildings (2 PSVs and 6 AHTSVs) and 2 secondhand modern PSVs.