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(23 Jul 2024, 13:58)

GE Shipping inks deal to sell 2005-built medium range product tanker 'Jag Pranav'

Great Eastern Shipping Company said that it has entered into a contract to sell its 2005 built Medium Range Product Tanker, Jag Pranav of about 51,383 deadweight tonnage (dwt) to an unaffiliated third party.

The vessel will be delivered to the new buyer by Q2/Q3 FY25.

Including Jag Pranav, the company’s current fleet stands at 43 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carrier) and 14 dry bulk carriers (2 Capesize, 8 Kamsarmax, 4 Supramax) aggregating 3.41 million dwt.

"Additionally, we had contracted to sell one MR product tanker in May 2024 and buy one MR product tanker in June 2024, which are due for deliveries in Q2 FY25,” the company said in a statement.

Great Eastern (GE) Shipping Company is India's largest private sector shipping service provider. The company operates in two main businesses: dry bulk carriers and tankers.

The scrip slipped 3.39% to currently trade at Rs 1320 on the BSE.


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