Great Eastern Shipping Contracts Sale of 'Jag Pankhi' Tanker; Updates Fleet Transactions
The Great Eastern Shipping Company Limited announced the contract to sell its 2003 built Medium Range Tanker, 'Jag Pankhi'. The vessel, which has a deadweight tonnage of about 46,273 dwt, is being sold to an unaffiliated third party and is scheduled for delivery to the buyer in Q1 FY27.Including the 'Jag Pankhi', the company's current owned fleet comprises 40 vessels. This fleet consists of 26 Tankers, categorized as 5 Crude Tankers, 17 Product Tankers, and 4 LPG Carriers. Additionally, the fleet includes 14 Dry Bulk Carriers, which are composed of 2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax vessels, aggregating 3.20 mn dwt.
In addition to the sale of the tanker, the company has also finalized plans for further fleet transactions. The company has contracted to buy one secondhand Kamsarmax Dry Bulk Carrier and one secondhand Medium Range Tanker. Furthermore, Great Eastern Shipping has contracted to sell its Medium Range Tanker, 'Jag Prakash'. These transactions involving acquisitions and sales are all anticipated to be completed in Q1 FY27.
GESHIP Stock Price Movement
As of 2:44 PM, shares of The Great Eastern Shipping Company Limited are slipping by 2.78% in live trading, currently at ₹1422.3. The stock is tracking against 370,824 shares traded in the session so far.Source:
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