We wish to inform you that the Company has delivered its 2007 built Medium Range Tanker ''Jag Prakash'' to the buyers.
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GE Shipping has completed the delivery of its 2007 built Medium Range Tanker 'Jag Prakash' to the buyers on May 13, 2026. The vessel was contracted for sale in Q1 FY27. Following this sale, the company's fleet stands at 40 vessels (25 Tankers and 15 Dry Bulk Carriers) with a total capacity of 3.24 million dwt. The company also has a contracted purchase of one secondhand MR Tanker and a contracted sale of another vessel 'Jag Pankhi', both expected to close in Q1 FY27. This indicates ongoing fleet optimization as GE Shipping divests older assets while acquiring newer ones.
The sale of this 19-year-old vessel represents routine fleet turnover for GE Shipping. Shareholders may see positive impact from upgrading the fleet with newer secondhand vessels while divesting aging assets that may have higher maintenance costs.