GE Shipping Takes Delivery Of Medium Range Tanker

04 Mar 2026 CW Team

The Great Eastern Shipping Company Limited took delivery of the 2013 South Korean built medium range tanker Jag Pranesh of about 51,565 dwt on 24 February 2026. The company had contracted to buy the vessel in Q3 FY26 and financed the acquisition entirely from internal accruals. The addition increases the company owned fleet and enhances its tanker capacity. The vessel will be integrated into the company operational pool and deployed in line with chartering opportunities.

After this transaction the company owned fleet stands at 41 vessels, comprising 27 tankers, including five crude tankers, 17 product tankers and five LPG carriers, and 14 dry bulk carriers, comprising two Capesize, nine Kamsarmax, one Ultramax and two Supramax, aggregating 3.25 mn dwt. The company reported that current capacity utilisation is close to 100 per cent. The fleet mix supports a diversified presence across liquid and dry segments. The company indicated that the acquisition aligns with its strategy of fleet optimisation and operational resilience.

Additionally the company has contracted to sell one Very Large Gas Carrier named Jag Vishnu and expects the sale transaction to be completed in Q4 FY26. The disposal is part of ongoing portfolio management and will be finalised subject to customary closing formalities. Management will continue to monitor market conditions to optimise asset deployment and balance sheet outcomes.

The company notified the stock exchanges of the delivery and requested stakeholders to take note of the transaction. Further details have been communicated through corporate communications channels and the company will issue updates as necessary. The development reflects continued activity in the company fleet and a focus on sustaining operational capacity ahead.

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