Goundar Sells Ships As Scrap

He said: “I’m losing passion for shipping now; my interest is dying out because there is so much jealousy and so much backstabbing.
11 Jun 2020 11:07
Goundar Sells Ships As Scrap
Goundar Shipping Limited vessel Lomaiviti Princess V that will be sold to scrap company.

Local shipping magnate George Goundar is selling two of his ten vessels for scrap.

Managing director Goundar Shipping Limited, Mr Goundar, says he is selling the two vessels because it is uneconomical to retain them.

“There is no job in Fiji now, that is why I am selling Lomaiviti Princess 3 and Lomaiviti Princess 5,” Mr Goundar said.

“There is someone interested in buying them, I will sell them when the price is right,” he said.

“I will never sell my vessels to the locals because no one can afford them.”

He refused to disclose how much he was selling the two vessels for scrap.

Mr Goundar had bought LP3 in 2015 for $2million, and LP5 was bought in 2017 for $2.5m; both vessels were bought from Canada.

This year LP3 is 42-years-old while LP5 is the oldest of the GSL fleet aged 56 years.

It has been costing GSL $10,000 a day to maintain LP5; which according to Mr Goundar was not viable.

LP5, one of the five GSL vessels at the Suva Harbour now does the Savusavu to Taveuni trips; the other four vessels are LP2, LP4, LP6 and recently purchased Jospeh P.


Joseph P is the latest and tenth to the GSL fleet.

The vessel had arrived two months ago but is still not given the green light to operate.

Mr Goundar said they were ordered by Fiji Revenue and Customs Service (FRCS) to pay Value Added Tax (VAT) and duty rate for the waste oil coming from the engine.

“I told FRCS that I won’t pay VAT for this. I have bought nine vessels already and they did not do this to me with my nine vessels,” he said.

“This is my ninth year running in Fiji. I have spent close to $12million on vessels.”

After buying five roll on roll off vessels last year he did not expect business to plunge.

“No one predicted this COVID-19 pandemic. We thought it was an overnight thing, but it isn’t.”


He said: “I’m losing passion for shipping now; my interest is dying out because there is so much jealousy and so much backstabbing.

“People need to see the conditions of other vessels and compare them with ours.

“I’m bringing in so many vessels, because this is good for the country, as it creates employment, with better services. When it comes to Goundar, people crucify me.”

Meanwhile, Victoria Marine Limited, director Jo Tagi, said Government needed to be more stringent with how ship owners shop for vessels offshore.


“If there were a guideline and policy in buying vessels, there would not be any confrontation for space at the wharves and jetties, no arguments regarding routes (inter-island) and no finger-pointing,” Mr Tagi said.

“Right now there are too many ships for too little cargo and limited passenger movement,” he said.

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