GE Shipping Sells 2007 Medium Range Tanker Jag Prakash

08 Apr 2026 CW Team

On six April 2026 The Great Eastern Shipping Company Limited has contracted to sell its 2007 built Medium Range tanker Jag Prakash of about 47,848 dwt to an unaffiliated third party. The vessel will be delivered to the new buyer in the first quarter of FY27. The transaction reflects ongoing asset rotation undertaken by the company to manage the age profile and employment of its vessels. No further operational details or financial terms were disclosed in the announcement.

Including Jag Prakash the company's current owned fleet stands at 40 vessels, comprising 26 tankers including five crude tankers, 17 product tankers and four LPG carriers, and 14 dry bulk carriers comprising two Capesize, nine Kamsarmax, one Ultramax and two Supramax. The fleet aggregates 3.20 million (mn) deadweight tonnes (dwt). The aggregated deadweight underlines the scale of the owned fleet and its capacity to serve multiple trade sectors.

Additionally the company has contracted to buy one secondhand Kamsarmax dry bulk carrier and one secondhand Medium Range tanker and these transactions are expected to be completed in the first quarter of FY27. Completion of these purchases will alter the composition of the owned fleet and is expected to be reflected in the company's fleet disclosures for the same quarter. The identified purchases are intended to complement existing tonnage and to provide flexibility in chartering and commercial deployment. The company will reflect these changes in its regular fleet reports and statutory filings as applicable.

The company did not disclose financial terms and described the sale as part of its ongoing fleet management efforts. Stakeholders seeking further details were directed to the company corporate communications email address. The press release was issued from Mumbai on six April 2026. Market participants will watch how the changes affect operational availability and earnings potential in the coming quarters.

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