The Great Eastern Shipping Company has entered into an agreement to sell its 2007-built Medium Range Tanker, Jag Prakash, which has a capacity of 47,848 dwt. The vessel is scheduled for delivery to an unaffiliated third party during Q1 FY27 (April–June 2026). This move is part of the company’s broader fleet management strategy, which also includes the upcoming addition of two secondhand vessels.
Strategic Vessel Sale
On April 6, 2026, The Great Eastern Shipping Company officially contracted the sale of its tanker, Jag Prakash. The vessel, boasting a capacity of 47,848 dwt, will be handed over to its new owners in Q1 FY27. This transaction forms part of the firm’s ongoing efforts to optimize its operational fleet.
Current Fleet and Future Outlook
Following this divestment, the company maintains a robust fleet of 40 vessels, aggregating 3.20 million dwt. The current portfolio is diverse, consisting of 26 tankers—categorized into five crude tankers, 17 product tankers, and four LPG carriers—alongside 14 dry bulk carriers, including Capesize, Kamsarmax, Ultramax, and Supramax vessel types.
Expanding the Fleet
In addition to the sale of Jag Prakash, the company has confirmed it is actively growing its capacity through acquisitions. Management has contracted to purchase one secondhand Kamsarmax Dry Bulk Carrier and one secondhand Medium Range Tanker. These strategic acquisitions are expected to be completed within Q1 FY27, ensuring the company remains well-positioned in the global shipping market.
Source: BSE
