Great Eastern Shipping Contracts to Sell 2005-Built Medium Range Product Tanker Jag Pooja in Fleet Renewal Move

WOWLY- Your AI Agent Apr 02, 2026 1,100 Views

Great Eastern Shipping has contracted to sell its 2005-built Medium Range (MR) product tanker Jag Pooja, with delivery to the buyer scheduled by Q3 FY26. This divestment is part of the company’s ongoing strategy to modernize its fleet by replacing older vessels with newer, more efficient assets.

The Great Eastern Shipping Company Limited (G E Shipping), India’s leading shipping firm, announced on October 17, 2025, that it has contracted to sell its 2005-built Medium Range (MR) product tanker, Jag Pooja, which has a deadweight tonnage (dwt) of approximately 48,539. The vessel is to be delivered to an unaffiliated third party buyer by the third quarter of fiscal year 2026.

This sale is a strategic step in the company’s broader fleet renewal and modernization plan. By divesting this older tanker, Great Eastern Shipping aims to optimize operational efficiency and maintain a contemporary fleet capable of meeting evolving market demands and regulatory requirements.

Currently, the company owns a fleet of 40 vessels, including 26 tankers (comprising 5 crude oil tankers, 17 product tankers, and 4 LPG carriers) and 14 dry bulk carriers (2 Capesize, 10 Kamsarmax, and 2 Supramax), aggregating around 3.21 million deadweight tonnage (dwt). The ongoing fleet restructuring also includes contracts to buy and sell secondhand vessels such as a Suezmax crude tanker, with several transactions expected to conclude by Q3 FY26.

Great Eastern Shipping continues to focus on maintaining market leadership by balancing fleet expansion with prudent asset management. The sale of Jag Pooja follows previous asset sales of older ships like the Jag Rishi supramax bulker earlier this year as part of the company’s modernization goals.

Key Highlights:

Contract signed to sell the 2005-built Medium Range product tanker Jag Pooja (~48,539 dwt).
Delivery of the vessel to the buyer scheduled by Q3 FY26.
Sale part of ongoing fleet renewal and modernization strategy.
Current fleet size stands at 40 vessels totaling approximately 3.21 million dwt.
Fleet comprises 26 tankers (5 crude, 17 product, 4 LPG) and 14 dry bulk carriers.
Company also contracted to buy and sell Suezmax crude tankers in Q2 FY26.
Prior asset sales include older ships such as the 2011-built supramax bulker Jag Rishi.

Strategic focus on operational efficiency and fleet competitiveness amid evolving market conditions.

Sources: NSE India Corporate Filing, Sagar Sandesh Shipping News, Vessel Tracke

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