Business Update17 Jun 2026, 12:43 pm
Great Eastern Shipping Takes Delivery of Medium Range Tanker "Jag Prabhu"
AI Summary
Great Eastern Shipping Company Ltd announced the delivery of its 2014-built Medium Range Tanker, "Jag Prabhu," on June 17, 2026. The vessel, with a capacity of approximately 49,420 dwt, was contracted for purchase in Q1 FY27 and financed entirely through internal accruals. This acquisition brings GE Shipping's owned fleet to 40 vessels, comprising 25 tankers and 15 dry bulk carriers, with a total capacity of 3.24 million dwt. The company is operating at near 100% capacity utilization and has another secondhand Long Range 2 Product Tanker acquisition expected in Q2 FY27.
Key Highlights
- GE Shipping took delivery of a 2014-built Medium Range Tanker, "Jag Prabhu".
- The acquisition increases the company's owned fleet to 40 vessels.
- The vessel was financed entirely from internal accruals.
- Current capacity utilization is close to 100%.
- Another tanker acquisition is expected in Q2 FY27.
Price Impact
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