Great Eastern Shipping to sell 19-year-old product tanker 

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The Great Eastern Shipping Company Limited (G E Shipping) announced today it has entered into an agreement to sell its medium-range product tanker, Jag Padma, to an undisclosed buyer. The 47,999 deadweight tonnage vessel, built in 2005, is scheduled for delivery to the new owner by the third quarter of fiscal year 2025.

The shares of Great Eastern Shipping Company Limited (G E Shipping) were trading at ₹1,285.75 down by ₹2.20 or 0.17 per cent on the NSE today at 12.15 pm.

This sale follows the company’s previous announcement in September 2024 to sell a Suezmax crude tanker, which is also slated for delivery in Q3 FY25.

Following the Jag Padma sale agreement, G E Shipping’s fleet currently consists of 41 vessels with a combined deadweight tonnage of 3.31 million. The fleet includes 28 tankers, comprising six crude carriers, 18 product tankers, and four LPG carriers. The company also operates 13 dry bulk carriers, which include two Capesize, eight Kamsarmax, and three Supramax vessels.