G E Shipping Signs Agreement to Sell Supramax Dry Bulk Carrier ‘Jag Rani’

The Great Eastern Shipping Company (G E Shipping) has entered into an agreement with an unaffiliated third party to sell its Supramax dry bulk carrier, the ‘Jag Rani,’ built in 2011 and with a deadweight tonnage (dwt) of approximately 56,820. The vessel is scheduled to be delivered to the new owner by the third quarter of the financial year 2025, as stated in an exchange filing.

With the inclusion of the ‘Jag Rani,’ G E Shipping’s current fleet consists of 43 vessels. This fleet is made up of 29 tankers, including 6 crude carriers, 19 product tankers, and 4 LPG carriers, along with 14 dry bulk carriers, which include 2 Capesize, 8 Kamsarmax, and 4 Supramax vessels, collectively aggregating to a total deadweight tonnage of 3.41 million dwt.

In addition, the company mentioned that it had previously contracted to sell one MR product tanker in July 2024, which is also slated for delivery by the third quarter of FY25.

The Great Eastern Shipping Company, founded in 1948, is a significant entity in India's shipping and oil drilling services sector. The company, along with its subsidiaries, is engaged in the transportation of crude oil, petroleum products, gas, and dry bulk commodities. It also operates in the offshore services industry through its wholly-owned subsidiary, Greatship India.