We wish to inform you that the Company has delivered its 2003 built Medium Range Tanker ''Jag Pankhi'' to the buyers
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GE Shipping has delivered its 2003 built Medium Range Tanker 'Jag Pankhi' to the buyers on May 14, 2026. The vessel was contracted for sale in Q1 FY27. Following the delivery, the company's owned fleet stands at 39 vessels (24 Tankers and 15 Dry Bulk Carriers) aggregating 3.19 million dwt. The company has simultaneously contracted to buy one secondhand Medium Range Tanker, expected to complete in Q1 FY27, indicating a fleet rationalisation where the sold vessel is being replaced.
The sale of a 23-year-old vessel is routine fleet management. The replacement purchase signals the company maintains its fleet capacity rather than shrinking, which is neutral to mildly positive for the shipping business.