G E Shipping Sells Crude Oil Tanker Jag Lok
The Great Eastern Shipping Company Limited (G E Shipping), a prominent player in India’s private shipping sector, has finalized the sale of its Suezmax crude oil tanker, Jag Lok. Built in 2005, the vessel, which boasts a deadweight tonnage of approximately 158,280, is set to be delivered to an unaffiliated third-party buyer by the third quarter of FY26. This sale is part of G E Shipping’s strategic initiative to optimize its fleet by phasing out older vessels while simultaneously acquiring newer ones.
Fleet Composition and Future Plans
Following the sale of Jag Lok, G E Shipping’s fleet now consists of 38 vessels, totaling a capacity of 3.04 million deadweight tonnage. The fleet is diversified, comprising 26 tankers, which include five crude tankers, seventeen product tankers, and four LPG carriers. Additionally, the company operates twelve dry bulk carriers, categorized into two Capesize, eight Kamsarmax, and two Supramax vessels. This varied fleet composition enables G E Shipping to maintain operational efficiency across multiple shipping segments.
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In line with its fleet optimization strategy, G E Shipping has also contracted to acquire two secondhand Kamsarmax dry bulk carriers and one additional Suezmax crude tanker. These new acquisitions are expected to enhance the company’s carrying capacity and solidify its position in both the crude and dry bulk markets by the third quarter of FY26. This proactive approach reflects G E Shipping’s commitment to adapting to market demands and improving its service offerings.
