The Great Eastern Shipping Company Limited has entered into a contract to sell its 2003 built Medium Range Tanker ‘Jag Pankhi’. The vessel, with a capacity of approximately 46,273 dwt, is expected to be delivered to an unaffiliated third party during Q1 FY27. This transaction is part of the company’s broader fleet management strategy to optimize its vessel portfolio.
Fleet Divestment Details
As part of its ongoing fleet renewal and management initiatives, The Great Eastern Shipping Company Limited has successfully contracted the sale of its Medium Range Tanker ‘Jag Pankhi’. The vessel, built in 2003, features a capacity of about 46,273 dwt. The company has confirmed that the vessel is slated for delivery to the new owner in Q1 FY27.
Strategic Portfolio Adjustments
Following the divestment of ‘Jag Pankhi’, the company maintains a robust fleet consisting of 40 vessels, which include 26 Tankers—comprising 5 Crude Tankers, 17 Product Tankers, and 4 LPG Carriers—along with 14 Dry Bulk Carriers. The total aggregate tonnage of the current fleet stands at 3.20 million dwt.
Future Transactions
Beyond this sale, the company is actively rebalancing its assets. It has entered into separate contracts to acquire one secondhand Kamsarmax Dry Bulk Carrier and one secondhand Medium Range Tanker. Additionally, the company is in the process of offloading its Medium Range Tanker ‘Jag Prakash’. All of these strategic transactions are scheduled to reach completion within Q1 FY27, reflecting the company’s focus on modernizing its operational capacity.
Source: BSE
