The Great Eastern Shipping Company Limited (GE Shipping) had agreed to sell two medium range tankers to unaffiliated third parties.

GE Shipping said it had agreed on April 6 to sell its 2007-built MR 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 financial year 2027.

Furthermore, the shipowner had contracted on April 7 to sell its 2003-built MR tanker Jag Pankhi of about 46,273-dwt, to an unaffiliated third party. The vessel will be delivered to the buyer in Q1 FY27.

Including Jag Pankhi, the company’s current owned fleet stands at 40 vessels, comprising 26 tankers (5 crude tankers, 17 product tankers, 4 LPG carriers) and 14 dry bulk carriers (2 capesize, 9 kamsarmax, 1 ultramax, 2 supramax) aggregating 3.20 mn dwt. 

Additionally, the company has contracted to buy one secondhand kamsarmax dry bulk carrier and one secondhand MR tanker. These transactions are expected to be completed in the first quarter of financial year 2027.