The Great Eastern Shipping Company Limited (G E Shipping) announced today the delivery of its 2004-built Medium Range Product Tanker “Jag Pranam” to buyers. The sale, contracted in May 2024, reduces the company’s fleet to 42 vessels.
The shares were trading at ₹1,347.95, up by ₹14.90 (1.12 per cent) on BSE at 3:20 pm on Monday.
G E Shipping’s current fleet now comprises 28 tankers and 14 dry bulk carriers, totaling 3.36 million deadweight tonnage. The company had previously disclosed plans to sell one MR product tanker in July 2024 and purchase another in June 2024, with deliveries expected later this year.
The sale of “Jag Pranam” follows the shipping industry trend of fleet renewal and asset optimization. G E Shipping continues to manage a diverse fleet of crude carriers, product carriers, LPG carriers, and various classes of dry bulk vessels.