The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated March 30, 2026, titled "GE Shipping delivers its 2002 built Very Large Gas Carrier Jag Vishnu ".
GESHIP · price
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GE Shipping has delivered its 2002-built Very Large Gas Carrier 'Jag Vishnu' to buyers, completing a sale that was contracted in Q3 FY26. After this transaction, the company's owned fleet stands at 40 vessels aggregating 3.20 million dwt, comprising 26 Tankers (5 Crude, 17 Product, 4 LPG carriers) and 14 Dry Bulk Carriers (2 Capesize, 9 Kamsarmax, 1 Ultramax, 2 Supramax). Separately, the company has contracted to buy one secondhand Kamsarmax Dry Bulk Carrier, with delivery expected by Q1 FY27.
The sale of an older vessel is part of GE Shipping's ongoing fleet renewal strategy and should free up capital, likely boosting near-term earnings from the sale proceeds. The simultaneous acquisition of a newer Kamsarmax bulker signals continued investment in fleet modernization, which is neutral to mildly positive for long-term shareholders.