Indian owner Great Eastern Shipping is offloading another of its ageing vessels as part of the company’s fleet renewal initiative.
The Mumbai-listed diversified owner has reportedly struck a deal with an undisclosed Chinese buyer for its 2011-built supramax bulk carrier Jag Rishi.
The deal for the 56,700 dwt ship, widely reported by S&P sources, came at $11.9m.
Great Eastern has been busy rejuvenating its fleet last year with several deals that saw older tonnage exit and be replaced by younger models.
Last October, the company agreed to sell its 2005-built MR tanker, Jag Padma, after shipping out the 2005-built suezmax Jag Lalit and another 2011-built supramax bulker, Jag Rani.
Including the ship in the latest sale, which Great Eastern has yet to confirm, the company’s fleet comprises a mix of 26 crude and product carriers, four LPG carriers, and 13 bulkers.