India’s Great Eastern Shipping has sold another older tanker as part of its ongoing fleet renewal drive.
The Mumbai-listed company said it has sealed a deal to sell the 2005-built 48,500 dwt Jag Pooja to an unaffiliated third party.
VesselsValue estimates the ship’s market value at about $10.9m. The company acquired the vessel in July 2016 for $13.5m.
Great Eastern has steadily pursued a disciplined renewal programme, taking advantage of firm secondhand prices while maintaining a diverse fleet mix across tankers and dry bulk.
The news follows the recent delivery of a 2016-built kamsarmax bulker, and Great Eastern reshuffling its crude tanker portfolio, contracting to buy one 2010-built suezmax and sell another 2005-built unit.
Following the latest transaction, the company’s owned fleet stands at around 40 vessels.