Great Eastern Shipping has taken delivery of the 2019 Japanese built Ultramax Dry Bulk Carrier “Jag Riddhi” on January 28, 2026. The vessel has a capacity of about 63,480 dwt. The company had contracted to buy the vessel in Q3 FY26 and it was financed entirely from internal accruals. The current fleet stands at 40 vessels.
New Vessel Delivery
Great Eastern Shipping (GE Shipping) announced the delivery of a new Ultramax Dry Bulk Carrier, named “Jag Riddhi”. The vessel was built in 2019 in Japan.
The official delivery date was January 28, 2026. The “Jag Riddhi” has a capacity of approximately 63,480 dwt.
Financing and Acquisition Details
The company had previously contracted to purchase the vessel in Q3 FY26. The acquisition was financed entirely through internal accruals.
Fleet Composition Update
Following this transaction, Great Eastern Shipping’s current owned fleet consists of 40 vessels. This includes:
- 26 Tankers (5 Crude Tankers, 16 Product Tankers, 5 LPG Carriers)
- 14 Dry Bulk Carriers (2 Capesize, 9 Kamsarmax, 1 Ultramax, 2 Supramax)
The total capacity of the fleet is approximately 3.20 mn dwt. The company’s current capacity utilization is close to 100%.
Additional Transactions
The company has contracted to buy one secondhand Medium Range Tanker and sell one Very Large Gas Carrier “Jag Vishnu”. These transactions are expected to be completed in Q4 FY26.
Source: BSE
