GE Shipping to sell medium vessel; adds dry bulk carrier to its fleet

The Great Eastern Shipping Company (GE Shipping) announced on 17 October that it has signed a contract to sell one of its long-serving medium-range product tankers, the 'Jag Pooja,' to an unaffiliated third party.

The tanker, built in 2005 with a capacity of approximately 48,539 deadweight tonnes (dwt), is expected to be delivered to its new buyer by the third quarter of the current fiscal year (Q3 FY26). The 'Jag Pooja' has been a fixture in the company’s product tanker segment for nearly two decades.

The sale of 'Jag Pooja' is part of the company’s ongoing strategy to optimise and modernise its fleet.

The announcement follows a recent fleet addition. On October 14, GE Shipping took delivery of a 2016-built Kamsarmax dry bulk carrier, named 'Jag Anjali,' of about 81,922 dwt. The company had contracted to purchase this vessel in Q2 FY26, and the acquisition was financed entirely through internal accruals.

The company's fleet adjustments continued through Q2 FY26 with additional transactional activity in the crude tanker segment. GE Shipping has contracted to buy one secondhand Suezmax crude tanker and simultaneously contracted to sell another secondhand Suezmax crude tanker.

Following the delivery of 'Jag Anjali' and including the planned sale of 'Jag Pooja,' GE Shipping’s owned fleet currently stands at 40 vessels, aggregating to 3.21 million dwt.

As of 2.31 pm on 17 October, the shares of the company were down by 1.21% to ₹1,032.35 per share.