Great Eastern Shipping Company is riding a strong pickup in tanker rates, but it is not rushing into big capital expansion plans. Instead, the focus is on making the most of the upcycle while keeping the balance sheet steady.

That approach, G Shivkumar, Executive Director and Chief Financial Officer of GE Shipping, said, explains the recent buying and selling of vessels.

Over the past four months, the company has bought five ships and sold four, moves he described as routine fleet upgrades rather than a growth push. “This is part of a modernisation as we’ve been talking about. We are not committing a large amount of capital,” Shivkumar said.
Source: CNBCTV18