India's One of the Largest Shipping Company Expands Fleet With 49,420 DWT Tanker Acquisition; FII Stake Increases
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The Great Eastern Shipping Company Limited has taken delivery of the 49,420 dwt Medium Range tanker ‘Jag Prabhu’, taking its owned fleet strength to 40 vessels with an aggregate capacity of 3.24 million dwt.
✨ Key Takeaways
On Wednesday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index gaining 55.75 points, or 0.23 per cent, to 24,044.90. Amid the positive market sentiment, GE Shipping share price traded at Rs 1,405.50, down 13.10 points or 0.92 per cent from the previous close, after the company took delivery of the 49,420 dwt Medium Range tanker 'Jag Prabhu', taking its owned fleet strength to 40 vessels.
GE Shipping Takes Delivery Of ‘Jag Prabhu’
The Great Eastern Shipping Company (GE Shipping) has taken delivery of the 2014-built Medium Range tanker ‘Jag Prabhu’ with a deadweight capacity of approximately 49,420 tonnes (dwt) on June 17, 2026. The company had contracted to acquire the vessel during the first quarter of FY27 and has now completed the transaction as scheduled.
The acquisition has been financed entirely through internal accruals, reflecting the company's continued focus on disciplined capital allocation and fleet expansion.
Fleet Strength Rises To 40 Vessels
Following the addition of Jag Prabhu, GE Shipping's owned fleet has increased to 40 vessels, comprising 25 tankers and 15 dry bulk carriers, with an aggregate carrying capacity of 3.24 million dwt.
The tanker fleet now consists of five crude tankers, 16 product tankers and four LPG carriers. The dry bulk fleet includes two Capesize vessels, 10 Kamsarmax vessels, one Ultramax vessel and two Supramax vessels.
Capacity Utilisation Remains Near 100 Per cent
The company stated that its current fleet capacity utilisation remains close to 100 per cent, indicating strong deployment levels across its shipping operations. The addition of Jag Prabhu further strengthens GE Shipping's presence in the product tanker segment while maintaining a diversified fleet mix across crude oil, petroleum products, LPG and dry bulk transportation.
Additional Tanker Acquisition Planned
GE Shipping has also contracted to acquire one second-hand Long Range 2 (LR2) product tanker. The company expects the purchase transaction to be completed during the second quarter of FY27.
The planned acquisition is expected to further expand the company's product tanker portfolio and support its ongoing fleet renewal and growth strategy.
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About GE Shipping
The Great Eastern Shipping Company Ltd, incorporated in 1948 and headquartered in Mumbai, is engaged in ocean-going shipping and offshore services. The company transports crude oil, petroleum products, gas and dry bulk commodities across domestic and international markets. FII shareholding in the company increased from 25.70 per cent in Q3FY26 (December 2025) to 28.44 per cent in Q4FY26
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Add NowGE Shipping operates one of India's largest private-sector shipping fleets and follows a fleet renewal strategy focused on acquiring relatively younger vessels while maintaining a diversified shipping portfolio.
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Disclaimer: The article is for informational purposes only and not investment advice.