The Great Eastern Shipping Company Limited (GE Shipping) has announced the sale of its 2003 built Medium Range Tanker, Jag Pankhi, with a capacity of approximately 46,273 deadweight tonnes (dwt). The sale is to an unaffiliated third party, with the delivery of the vessel scheduled for the first quarter of the financial year 2027 (Q1 FY27).
This transaction is part of GE Shipping’s ongoing strategy to optimise its fleet composition. Currently, the company owns a fleet of 40 vessels, which includes 26 tankers and 14 dry bulk carriers, aggregating a total of 3.20 million dwt. The tanker fleet consists of 5 crude tankers, 17 product tankers, and 4 LPG carriers, while the dry bulk fleet comprises 2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax vessels.
In addition to the sale of Jag Pankhi, GE Shipping has also contracted to purchase one secondhand Kamsarmax dry bulk carrier and one secondhand Medium Range tanker. Furthermore, the company has agreed to sell another Medium Range tanker, Jag Prakash, with all these transactions expected to be finalised in Q1 FY27.
GE Shipping continues to adjust its fleet to meet market demands and enhance operational efficiency, maintaining its position as a leading player in the shipping industry.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).