GE Shipping To Sell 2003 Built Medium Range Tanker

09 Apr 2026 CW Team

Including Jag Pankhi 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 vessels, aggregating a total deadweight tonnage of 3.20 million deadweight tonnes (dwt). The fleet composition reflects a mix of crude and product trade tonnage alongside dry bulk capacity which supports diversified commercial exposure. The company thereby maintains a balanced asset base across tanker and dry bulk segments.

Additionally the company has contracted to buy one secondhand Kamsarmax dry bulk carrier and one secondhand Medium Range tanker while also contracting to sell its Medium Range tanker Jag Prakash, with these transactions expected to be completed in the first quarter of fiscal year 2027. These acquisitions and disposals are intended to refresh vessel age profiles and to align capacity with prevailing market demand. The combined activity is presented as part of a strategic renewal of the owned fleet.

Corporate communications enquiries are directed to the company's email address and further regulatory disclosures will follow as transactions complete in accordance with applicable listing requirements. The statement restates that the buyer is an unaffiliated third party and that deliveries and completions are subject to customary closing conditions. The company continues to monitor market conditions and to pursue opportunities consistent with its commercial and financial objectives.

On seven April 2026 The Great Eastern Shipping Company Limited contracted to sell its 2003 built Medium Range tanker Jag Pankhi of about 46,273 deadweight tonnes (dwt) to an unaffiliated third party, with delivery to the buyer scheduled in the first quarter of fiscal year 2027. The vessel is classed as a Medium Range tanker and the transaction forms part of an ongoing fleet optimisation programme. The announcement was made from Mumbai on seven April 2026. Including Jag Pankhi 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 vessels, aggregating a total deadweight tonnage of 3.20 million deadweight tonnes (dwt). The fleet composition reflects a mix of crude and product trade tonnage alongside dry bulk capacity which supports diversified commercial exposure. The company thereby maintains a balanced asset base across tanker and dry bulk segments. Additionally the company has contracted to buy one secondhand Kamsarmax dry bulk carrier and one secondhand Medium Range tanker while also contracting to sell its Medium Range tanker Jag Prakash, with these transactions expected to be completed in the first quarter of fiscal year 2027. These acquisitions and disposals are intended to refresh vessel age profiles and to align capacity with prevailing market demand. The combined activity is presented as part of a strategic renewal of the owned fleet. Corporate communications enquiries are directed to the company's email address and further regulatory disclosures will follow as transactions complete in accordance with applicable listing requirements. The statement restates that the buyer is an unaffiliated third party and that deliveries and completions are subject to customary closing conditions. The company continues to monitor market conditions and to pursue opportunities consistent with its commercial and financial objectives.

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