GE Shipping Sells Medium-Range Tanker, Announces Fleet Changes

The Great Eastern Shipping Company has announced the sale of its medium-range tanker Jag Pankhi and detailed upcoming fleet changes. The transaction will take place in the first quarter of the financial year, part of broader updates including vessel acquisitions and sales to optimize their fleet strategy.

In a recent development, The Great Eastern Shipping Company Limited has announced the sale of its 2003-built medium-range tanker, Jag Pankhi, to an undisclosed third party. The transaction is scheduled for completion in the first quarter of the financial year.

Alongside the sale, GE Shipping revealed that their existing fleet consists of 40 vessels, including a mix of tankers and dry bulk carriers. This extensive range totals 3.20 million deadweight tonnes (DWT).

The company also plans to expand its fleet by purchasing a second-hand Kamsarmax dry bulk carrier and a medium-range tanker while selling another medium-range tanker, Jag Prakash. These strategic moves are projected to conclude by the first quarter of FY27.

(With inputs from agencies.)