Great Eastern Shipping Sells Medium Range Tanker Jag Pankhi
Filing Summary
The Great Eastern Shipping Company Ltd has entered into a contract to sell its 2003 built Medium Range Tanker, Jag Pankhi, with a capacity of approximately 46,273 dwt, to an unaffiliated third party. The delivery of the vessel is scheduled for the first quarter of FY27. This transaction is part of the company’s ongoing fleet management strategy, which includes the acquisition of a secondhand Kamsarmax Dry Bulk Carrier and a Medium Range Tanker, as well as the sale of another tanker, Jag Prakash.
The Great Eastern Shipping Company Ltd has announced the sale of its 2003 built Medium Range Tanker, Jag Pankhi, with a capacity of about 46,273 dwt. The sale is to an unaffiliated third party, and the vessel is expected to be delivered in the first quarter of FY27.
Following this transaction, the company’s current owned fleet consists of 40 vessels. This includes 26 tankers, comprising 5 crude tankers, 17 product tankers, and 4 LPG carriers, along with 14 dry bulk carriers, which include 2 capesize, 9 kamsarmax, 1 ultramax, and 2 supramax vessels, aggregating to 3.20 million dwt.
In addition to the sale of Jag Pankhi, the company has also contracted to purchase one secondhand Kamsarmax Dry Bulk Carrier and one secondhand Medium Range Tanker. Furthermore, the company has contracted to sell another Medium Range Tanker, Jag Prakash. These transactions are anticipated to be completed in the first quarter of FY27.
The Great Eastern Shipping Company Ltd focuses on the transportation of crude oil, petroleum products, gas, and dry bulk commodities. The company is engaged in strategic fleet management to optimize its operations and maintain a balanced portfolio of vessels to meet market demands.