Great Eastern (GE) Shipping capacity is expected to increase significantly with the purchase of the new ships, which will cost $180m, chief financial officer G Shivakumar told investors during a conference call.
G Shivakumar
Great Eastern (GE) Shipping has 29 ships on the water.
G Shivakumar
Great Eastern (GE) Shipping has 29 ships on the water.
Great Eastern (GE) Shipping will also buy a product tanker.
Great Eastern (GE) Shipping has placed a $200m order for a rig, due for delivery by the end of this fiscal year.
CFO G Shivakumar said 50% of the planned capex will come in financial year 2015, while the remainder will be shared equally in 2016 and 2017.