The Great Eastern Shipping Company Limited (GE Shipping) announced the successful delivery of the 2013 South Korean built Medium Range Tanker, “Jag Pranesh”, on February 24, 2026. The vessel has a deadweight tonnage (dwt) of approximately 51,565. This acquisition, contracted in Q3 FY26, was financed entirely through internal accruals. Concurrently, the company has contracted to sell its Very Large Gas Carrier, “Jag Vishnu”, expected to conclude in Q4 FY26.
Acquisition of New Tanker Confirmed
Further to their previous communication, The Great Eastern Shipping Company Limited (GE Shipping) confirmed the successful takeover of the vessel “Jag Pranesh” on February 24, 2026. This ship is a Medium Range Tanker constructed in 2013 in South Korea and possesses a capacity of about 51,565 dwt. The company noted that this acquisition was originally contracted during Q3 FY26 and has been financed completely using internal accruals.
Current Fleet Status and Utilization
Following this transaction, GE Shipping’s owned fleet now comprises 41 vessels in total. This fleet is broken down into 27 Tankers (including 5 Crude Tankers, 17 Product Tankers, and 5 LPG Carriers) and 14 Dry Bulk Carriers (consisting of 2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax). The total aggregate capacity of the operating fleet stands at 3.25 mn dwt. The company reported that its current capacity utilization is close to 100%.
Divestment of Gas Carrier Planned
In a separate strategic move, the company announced that it has entered into a contract to sell one of its Very Large Gas Carriers, named “Jag Vishnu”. This sale transaction is anticipated to be finalized and completed during Q4 FY26.
Source: BSE
