GE Shipping has contracted to buy a 1988 built Aframax crude carrier. The 96,551 dwt vessel built at Sumitomo Heavy Industries, Japan is to be delivered in the fourth quarter of FY 2004-05.

The company's current fleet of 71 vessels comprises 41 ships and 30 offshore assets. The company also has 15 new building vessels on order with deliveries starting from January 2005.