Great Eastern Shipping Takes Delivery of Tanker 'Jag Prabhu,' Bolstering Fleet Strength
Great Eastern Shipping Company Limited (GE Shipping) has acquired a new vessel, marking an expansion of its current fleet capacity and operational scope. The company took delivery of the 2014 built Medium Range Tanker 'Jag Prabhu' on June 17, 2026.The acquisition was structured as part of a commitment made during Q1 FY27. Details regarding the new asset include:
- Vessel Name: Jag Prabhu
- Type: Medium Range Tanker
- Year Built: 2014
- Tonnage: Approximately 49,420 dwt
The purchase of 'Jag Prabhu' was financed entirely from internal accruals.
Fleet Status and Capacity Utilization
Following the successful delivery of this vessel, GE Shipping’s current owned fleet stands at 40 vessels. The company has a high capacity utilization rate, noted as being close to 100%.The company’s current fleet composition is diverse, comprising both Tankers and Dry Bulk Carriers, aggregating a total tonnage of 3.24 mn dwt.
| Vessel Category | Sub-Type | Quantity |
|---|---|---|
| Tankers | Crude Tankers | 5 |
| Product Tankers | 16 | |
| LPG Carriers | 4 | |
| Dry Bulk Carriers | Capesize | 2 |
| Kamsarmax | 10 | |
| Ultramax | 1 | |
| Supramax | 2 |
Future Acquisitions Planned
In addition to the recent delivery, GE Shipping has secured plans for a future acquisition. The company has contracted to buy one secondhand Long Range 2 Product Tanker. This expected purchase transaction is slated for completion in Q2 FY27.GESHIP Stock Price Movement
As of 12:50 PM, shares of The Great Eastern Shipping Company Limited are slipping by 0.75% in live trading, currently at ₹1407.9. The stock has seen a volume of 229,355 shares traded so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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