+
GE Shipping Delivers 2003 Built Medium Range Tanker Jag Pankhi
ECONOMY & POLICY

GE Shipping Delivers 2003 Built Medium Range Tanker Jag Pankhi

On 14 May 2026, The Great Eastern Shipping Company Limited (GE Shipping) delivered its 2003-built Medium Range Tanker Jag Pankhi to buyers after it was contracted for sale in Q1 FY27. The company stated the transaction completed on that date and recorded the disposal as part of its fleet management activities.

Following the sale the company's current owned fleet stands at 39 vessels, comprising 24 tankers and 15 dry bulk carriers, aggregating 3.19 mn deadweight tonnage (dwt). The tanker fleet includes five crude tankers, 15 product tankers and four LPG carriers while the dry bulk fleet comprises two capesize, 10 kamsarmax, one ultramax and two supramax vessels. Fleet composition reflects ongoing portfolio adjustments in response to market conditions.

GE Shipping has also contracted to buy one secondhand Medium Range Tanker, with the transaction expected to be completed in Q1 FY27 and subject to customary closing conditions. The company indicated the acquisition forms part of its renewal strategy and will be accounted for upon completion. The announcement was issued from Mumbai on 14 May 2026.

The company continues to balance disposals and acquisitions to optimise age profile and operational efficiency across owned ships. GE Shipping's activity in the secondhand market and upkeep of technical standards underpin its stated commercial priorities and service continuity to charterers. Contact details for further information were provided by the company via its corporate communications email and website.

The disposal of the 2003-built tanker is consistent with the company's stated renewal policy and is intended to modestly lower the average age of the owned fleet while enabling targeted acquisitions. Management described disposals and purchases as tools for capital recycling and to maintain commercial agility in volatile markets. Stakeholders seeking detailed timelines and financial figures were directed to the company's regulatory filings and corporate communications channels.

On 14 May 2026, The Great Eastern Shipping Company Limited (GE Shipping) delivered its 2003-built Medium Range Tanker Jag Pankhi to buyers after it was contracted for sale in Q1 FY27. The company stated the transaction completed on that date and recorded the disposal as part of its fleet management activities. Following the sale the company's current owned fleet stands at 39 vessels, comprising 24 tankers and 15 dry bulk carriers, aggregating 3.19 mn deadweight tonnage (dwt). The tanker fleet includes five crude tankers, 15 product tankers and four LPG carriers while the dry bulk fleet comprises two capesize, 10 kamsarmax, one ultramax and two supramax vessels. Fleet composition reflects ongoing portfolio adjustments in response to market conditions. GE Shipping has also contracted to buy one secondhand Medium Range Tanker, with the transaction expected to be completed in Q1 FY27 and subject to customary closing conditions. The company indicated the acquisition forms part of its renewal strategy and will be accounted for upon completion. The announcement was issued from Mumbai on 14 May 2026. The company continues to balance disposals and acquisitions to optimise age profile and operational efficiency across owned ships. GE Shipping's activity in the secondhand market and upkeep of technical standards underpin its stated commercial priorities and service continuity to charterers. Contact details for further information were provided by the company via its corporate communications email and website. The disposal of the 2003-built tanker is consistent with the company's stated renewal policy and is intended to modestly lower the average age of the owned fleet while enabling targeted acquisitions. Management described disposals and purchases as tools for capital recycling and to maintain commercial agility in volatile markets. Stakeholders seeking detailed timelines and financial figures were directed to the company's regulatory filings and corporate communications channels.

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code