G E Shipping enters into contract to sell medium range product tanker Jag Padma

Great Eastern Shipping Company (G E Shipping) said that it has entered into a contract to sell its 2005-built medium range product tanker Jag Padma of about 47,999 dwt to an unaffiliated third party.

The vessel will be delivered to the new buyer by Q3 FY25, the company added.

Including Jag Padma, companys current fleet stands at 41 vessels, comprising 28 tankers (6 crude carriers, 18 product tankers, 4 LPG carrier) and 13 dry bulk carriers (2 Capesize, 8 Kamsarmax, 3 Supramax) aggregating 3.31 million deadweight tonnage (dwt).

Additionally, the company has contracted to sell one Suezmax crude tanker in September 2024, which is due for delivery by Q3 FY25.

Great Eastern (GE) Shipping Company is India’s largest private sector shipping service provider. The company operates in two main businesses: dry bulk carriers and tankers.

The scrip rose 0.10% to currently trade at Rs 1288.75 on the BSE.
Source: Capital Market – Live News