GE Shipping to sell Suezmax crude tanker, Jag Lalit, as part of fleet adjustment strategy

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The Great Eastern Shipping Company Limited (GE Shipping) announced today it has contracted to sell its 2005-built Suezmax Crude Tanker, Jag Lalit. The vessel, with a capacity of approximately 158,344 deadweight tonnage (dwt), will be delivered to an unaffiliated third party by the third quarter of fiscal year 2025.

The shares of Great Eastern Shipping Company Limited (GE Shipping) were trading at ₹1,257.75 down by ₹21.45 or 1.68 per cent on the NSE today at 3.16 pm.

This sale follows recent agreements to sell an MR product tanker in July and a Supramax dry bulk carrier in August, both set for delivery in the same quarter. Post-sale, GE Shipping’s fleet will consist of 43 vessels, including 29 tankers and 14 dry bulk carriers, totalling 3.41 million dwt.

The company’s tanker fleet comprises six crude carriers, 19 product tankers, and 4 LPG carriers, while its dry bulk fleet includes 2 Capesize, 8 Kamsarmax, and 4 Supramax vessels. This transaction continues GE Shipping’s fleet adjustment strategy in response to market conditions.