Great Eastern Shipping Company has successfully taken delivery of its 2015-built Long Range 2 Tanker 'Jag Laxman' of approximately 109,990 dwt on July 9, 2026, as reported by Business Standard. This vessel was contracted for purchase in Q1 FY27 and is financed entirely from internal accruals. The delivery brings the company's current owned fleet to 41 vessels, representing a significant expansion from the previous 40-vessel fleet.
Following the latest delivery, Great Eastern Shipping's current owned fleet now comprises 26 Tankers (5 Crude Tankers, 17 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax). The total fleet capacity has increased to 3.35 million dwt, with the company maintaining its current capacity utilization close to 100%. The company has also contracted to sell one secondhand Long Range 2 Product Tanker, with this sale transaction expected to be completed in Q2 FY27.
As reported by The Economic Times, Great Eastern Shipping announced plans to sell its 17-year-old long-range oil tanker, named 'Jag Lokesh' to an undisclosed and unaffiliated third party. According to the NSE filing, the company has contracted to sell its 2009-built Long Range 2 Tanker - Jag Lokesh, with the ship set to be delivered in the second quarter of the financial year ending 2026-27. The company has also contracted to sell its 2003 built Medium Range Tanker 'Jag Pankhi' of about 46,273 dwt and 2007 built Medium Range Tanker 'Jag Prakash' of about 47,848 dwt, both to unaffiliated third parties with delivery expected in Q1 FY27.
According to The Economic Times, maritime logistics companies tend to sell their existing ships if they are closing towards the upper limit of operational age, as per regulatory norms. Some companies switch to new fleets to avoid environmental scrutiny, while others look for newer age second-hand ships in the market. The sale of the Jag Lokesh represents a typical industry practice of fleet modernization and regulatory compliance management, with the company maintaining a disciplined approach to vessel replacement and capacity optimization.
