The Great Eastern Shipping Company Limited (GE Shipping) has confirmed the successful delivery of its 2002-built Very Large Gas Carrier (VLGC), “Jag Vishnu”, to the buyers. The sale was originally contracted during the Q3 FY26 period. Following this divestment, the company’s owned fleet now comprises 40 vessels. Furthermore, GE Shipping has a contract in place to acquire one secondhand Kamsarmax Dry Bulk Carrier, expected to be completed by Q1 FY27.
Confirmation of Vessel Sale and Delivery
In a filing dated March 30, 2026, The Great Eastern Shipping Company Limited (GE Shipping) formally announced the completion of the sale of one of its major assets. The vessel in question is the 2002-built Very Large Gas Carrier (VLGC) named “Jag Vishnu”. The contract for the sale of this vessel was initially entered into during the third quarter of the Financial Year 2026 (Q3 FY26).
Impact on Fleet Composition
This transaction results in a restructuring of the company’s owned fleet. Post-delivery of the “Jag Vishnu,” GE Shipping’s current owned fleet stands at 40 vessels. This fleet is composed of 26 Tankers (including 5 Crude Tankers, 17 Product Tankers, and 4 LPG Carriers) and 14 Dry Bulk Carriers (comprising 2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax). The aggregate capacity of the current fleet is 3.20 million deadweight tonnes (dwt).
Future Fleet Expansion Plans
While divesting the VLGC, the company simultaneously disclosed plans for fleet expansion through acquisition. GE Shipping has contracted to purchase one secondhand Kamsarmax Dry Bulk Carrier. This new acquisition transaction is scheduled to be finalized and completed by the first quarter of FY27 (Q1 FY27), indicating a strategic shift in asset allocation towards dry bulk capacity.
Source: BSE
