Great Eastern Shipping Company Limited (GE Shipping) has successfully delivered its 2005-built Medium Range Product Tanker 'Jag Pooja' to buyers, following a sale contract signed in October 2025. This transaction marks a significant move in the company's fleet management strategy.

Fleet Composition Update

Following this delivery, GE Shipping's owned fleet has been adjusted as follows:

The company's dry bulk carrier fleet includes 2 Capesize, 10 Kamsarmax, and 2 Supramax vessels. The total fleet now aggregates to 3.32 million deadweight tonnage (dwt).

Upcoming Fleet Changes

GE Shipping has also disclosed information about pending transactions that will further alter its fleet composition:

1. The company has contracted to sell one Suezmax crude tanker.
2. It has agreed to purchase one secondhand Ultramax dry bulk carrier.

These transactions are expected to be completed in the second half of the fiscal year 2026.

Market Implications

This strategic move by GE Shipping reflects the dynamic nature of the shipping industry and the company's proactive approach to fleet management. The sale of an older vessel and the planned acquisition of a secondhand dry bulk carrier suggest a focus on optimizing fleet efficiency and adapting to market demands.

Investors and market watchers may want to keep an eye on how these fleet changes impact GE Shipping's operational capacity and financial performance in the coming quarters.

For more information, stakeholders are encouraged to refer to the company's official communications or contact GE Shipping directly.

Great Eastern Shipping Company , India's largest private sector shipping company, has announced significant leadership changes effective November 9, 2025. These changes mark the end of an era and the beginning of a new chapter in the company's storied history.

K.M. Sheth's Extraordinary Legacy

Mr. K.M. Sheth, the Non-Executive Chairman of the company, has decided to step down from his position as Chairman and member of the Board due to age-related reasons. Mr. Sheth's association with Great Eastern Shipping has been nothing short of extraordinary, spanning an impressive 73 years.

Mr. Sheth's journey with the company began in 1952 when he joined at the young age of 20. His dedication and expertise led to his appointment to the Board in 1970, and he subsequently became Chairman & Managing Director in 1992. Throughout his tenure, Mr. Sheth has steered the company through the volatile cycles of global shipping, contributing significantly to its growth and success.

In recognition of his lifelong service and invaluable contribution to both the company and the Indian maritime industry, the Board has appointed Mr. K.M. Sheth as 'Chairman Emeritus' of the company for life, effective November 9, 2025. This honorary position comes without remuneration, underlining the respect and gratitude the company holds for Mr. Sheth's leadership.

New Leadership at the Helm

As part of this transition, the Board has appointed Mr. Bharat K. Sheth, currently serving as Deputy Chairman and Managing Director, to the position of Chairman of the company. Effective November 9, 2025, Mr. Bharat K. Sheth will be re-designated as 'Chairman and Managing Director'.

Mr. Bharat K. Sheth's journey with Great Eastern Shipping began in 1981 after he obtained his Bachelor of Science (Economics) with honours from St. Andrews University, Scotland. His career progression within the company is noteworthy:

Throughout his career, Mr. Bharat K. Sheth has gained extensive expertise in chartering and Sale & Purchase activities, which are crucial aspects of the shipping business.

Family Ties in Leadership

It's worth noting that the leadership of Great Eastern Shipping has strong family ties. Mr. Bharat K. Sheth is the son of Mr. K.M. Sheth and the brother of Mr. Ravi K. Sheth, who serves as a Non-Executive Director of the company.

Financial Update

Coinciding with these leadership changes, the company has also declared its second interim dividend for the fiscal year 2025-26. Shareholders will receive Rs. 7.20 per share, with the record date set for November 13, 2025. The interim dividend is scheduled to be paid to shareholders on or after December 2, 2025.

As Great Eastern Shipping enters this new phase of leadership, the company looks to build upon its strong foundation of professional excellence, sound governance, and financial prudence established under Mr. K.M. Sheth's guidance. The transition represents not just a change in leadership, but a continuation of the values and vision that have made Great Eastern Shipping a leader in India's maritime sector.