The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated February 24, 2026, titled "GE Shipping takes delivery of 2013 built Medium Range Tanker Jag Pranesh ".
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GE Shipping took delivery of a 2013-built, South Korean Medium Range Tanker named 'Jag Pranesh' (about 51,565 dwt) on February 24, 2026. The vessel was contracted for purchase in Q3 FY26 and was financed entirely from internal accruals, meaning no external borrowing was used. After this addition, the company's owned fleet stands at 41 vessels — 27 tankers and 14 dry bulk carriers — totaling about 3.25 million dwt, with capacity utilization close to 100%. Additionally, the company has contracted to sell one Very Large Gas Carrier 'Jag Vishnu', with that sale expected to close in Q4 FY26.
This is a routine fleet expansion for shareholders — the company is growing its tanker capacity using its own cash without taking on debt, which is positive for financial health. With near-full capacity utilization, the new vessel should start contributing to revenue soon. The pending sale of the VLGC is also part of normal fleet rebalancing.