Buyer defaults on GE Shipping supramax purchase

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Mumbai: India’s Great Eastern Shipping has announced that the contracted sale of its 52,364 dwt Supramax dry bulk carrier, Jag Rahul, “will not be concluded on account of buyer’s default”.
Declining to name the intended buyer in its statement, GE Shipping added “The vessel will continue to be a part of Company’s fleet, which currently stands at 41 vessels.”  [16/01/09]