GEFO Makes Heavy Investments For Fleet Expansion

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GEFO has decided to invest a three-digit million amount’ in ten new 3,850 dwt tankers. GEFO will have completed its current 400 million euro investment program when the last new building is delivered in the summer of 2024.

Environment Friendly

This creates space for a new investment program. These new sea-going vessels have been further optimized compared to the last series so that they consume less fuel and produce correspondingly lower emissions.

The ships are also designed in such a way that various environmentally friendly optimisations can be carried out at a later stage and innovative fuels can be used. They are being built in China at the Xiangyu shipyard in Nantong. Delivery will take place between 2026 and 2028.

The shipyard Nantong Xiangyu belongs to the state-owned group Xiamen Xiangyu (XMXYG), number 42 of the largest companies in China by turnover and ranking 142nd of the „Fortune Global Top 500“.

Expanding Fleet

These newbuilds will serve to expand GEFO’s fleet and replace some of the vessels that will reach the maximum age of 20 years accepted by most chemical shippers between 2028 and 2030.

GEFO’s fleet comprises a total of 150 tankers, including chemical, gas and mineral oil tankers, which are deployed on the Rhine and in the ARA (Antwerp/Rotterdam/Amsterdam) chemical triangle.

With this fleet of 150 tankers, GEFO achieves an annual turnover of 500 to 600 million euros. GEFO was founded in 1961 and is family-owned.

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Source: Safety4Sea

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