Great Eastern Shipping Completes Sale of Suezmax Tanker Jag Lok
The Great Eastern Shipping Company Limited (G E Shipping) has successfully delivered its Suezmax crude tanker, Jag Lok, to its new owners. This transaction, which was originally contracted in September 2025, signifies a strategic move in the company’s ongoing fleet optimization efforts. The sale aligns with G E Shipping’s objectives to adapt to market conditions and enhance long-term asset management.
The delivery of Jag Lok, a vessel built in 2005, is a significant milestone for G E Shipping. This transaction not only reflects the company’s commitment to maintaining a modern and efficient fleet but also underscores its proactive approach to navigating the dynamic shipping market. The sale is part of a broader strategy to optimize the fleet, ensuring that it remains competitive and well-positioned for future opportunities.
Current Fleet Composition and Future Transactions
With the completion of the Jag Lok sale, G E Shipping’s owned fleet now consists of 39 vessels, boasting a total capacity of approximately 3.17 million deadweight tonnes (dwt). The fleet is diversified, comprising a balanced mix of tanker and dry bulk assets. Specifically, 25 of these vessels are tankers, which include five crude tankers, 16 product tankers, and four LPG carriers. The remaining 14 vessels are engaged in the dry bulk segment, featuring two Capesize, ten Kamsarmax, and two Supramax carriers.
In addition to the recent sale, G E Shipping has announced further fleet transactions currently in progress. The company is set to acquire one secondhand Very Large Gas Carrier (VLGC) and one secondhand Ultramax dry bulk carrier. Concurrently, it has agreed to sell a Kamsarmax dry bulk vessel named Jag Aarati. These transactions are anticipated to be finalized during the fourth quarter of FY26, pending customary closing conditions.
This strategic maneuvering within the fleet highlights G E Shipping’s commitment to maintaining a robust and versatile presence in the shipping industry. By continuously optimizing its fleet, the company aims to enhance operational efficiency and capitalize on emerging market trends.
