India’s Great Eastern Shipping has offloaded one of its bulk carriers after a series of disposals of vintage MR tonnage as part of the company’s product tanker fleet renewal initiative.
The Mumbai-listed diversified owner said it had struck a deal with an undisclosed buyer for its 2011-built supramax Jag Rani.
No price tag has been attached to the 56,820 dwt ship, online pricing platform VesselsValue estimates at about $15.8m.
Great Eastern has been busy rejuvenating its tanker fleet this year with several deals that saw older units being sold and replaced by younger models. In July, the company agreed to sell the 2005-built MR Jag Pranav after picking up the 2013-built STI Beryl from Scorpio Tankers for $36.6m a month earlier.
Including the supramax agreed for sale, the company’s fleet currently comprises a mix of 25 crude and product carriers, four LPG carriers and 14 bulkers.