Sale7 Jul 2026, 11:22 am
GE Shipping Contracts Sale of 2009 Built Tanker 'Jag Lokesh'
AI Summary
Great Eastern Shipping Company Ltd (GE Shipping) has entered into an agreement to sell its 2009-built Long Range 2 Tanker, 'Jag Lokesh', to an unaffiliated third party. The vessel, with a capacity of approximately 105,900 dwt, is scheduled for delivery in the second quarter of FY27. This divestment reduces GE Shipping's owned fleet to 40 vessels, comprising 25 tankers and 15 dry bulk carriers. Concurrently, the company is in the process of acquiring a secondhand Long Range 2 Product Tanker, also expected to be completed in Q2 FY27. The company's capacity utilization is currently near 100%.
Key Highlights
- GE Shipping to sell 2009-built LR2 Tanker 'Jag Lokesh'.
- Vessel delivery to buyer expected in Q2 FY27.
- Fleet size reduces to 40 vessels post-sale.
- Company is also acquiring a secondhand LR2 Product Tanker.
- Capacity utilization stands at approximately 100%.
Price Impact
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