Great Eastern Shipping Company has entered into a significant financial agreement with its wholly owned subsidiary, Greatship (India) Limited (GIL), providing a substantial term loan of Rs 425.00 crores. This strategic move aims to refinance GIL's existing External Commercial Borrowing (ECB) facility.

Loan Details

The loan agreement, executed on September 18, comes with the following key terms:

Purpose and Impact

The primary objective of this loan is to enable Greatship India to prepay its existing ECB facility, which currently has an outstanding amount of USD 70.90 million. This refinancing strategy could potentially help optimize the subsidiary's debt structure and possibly reduce its foreign currency exposure.

Transaction Transparency

Great Eastern Shipping has emphasized that the transaction is conducted on an arm's length basis, ensuring fairness and transparency. The company has also clarified that the promoters have no interest in this transaction, addressing any potential concerns about conflicts of interest.

Regulatory Compliance

In compliance with the Securities and Exchange Board of India (SEBI) regulations, Great Eastern Shipping has disclosed the details of this agreement to the stock exchanges. The disclosure includes information required under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Company Relationship

Greatship (India) Limited is a wholly owned subsidiary of Great Eastern Shipping Company. This parent-subsidiary relationship underscores the strategic nature of the loan agreement within the corporate group structure.

This financial maneuver by Great Eastern Shipping demonstrates the company's commitment to supporting its subsidiary's financial health and potentially improving the overall financial efficiency of the group. As the maritime industry continues to navigate global economic challenges, such strategic financial decisions could play a crucial role in maintaining competitiveness and financial stability.

Great Eastern Shipping Company Limited has completed the delivery of its 2005-built Suezmax crude tanker Jag Lok to buyers on December 23, 2025. The vessel was originally contracted for sale in September 2025, marking the completion of a significant fleet management transaction.

Transaction Details

The delivery of Jag Lok represents the culmination of the sale agreement announced earlier. Following this transaction, the company's fleet composition has been updated to reflect the current operational capacity.

Updated Fleet Composition

After the delivery of Jag Lok, GE Shipping's current owned fleet stands at 39 vessels with an aggregate capacity of 3.17 million deadweight tonnage (dwt).

Tanker Fleet Details

The company's tanker segment comprises:

Dry Bulk Carrier Fleet

The dry bulk carrier fleet includes:

Future Fleet Transactions

GE Shipping has contracted additional fleet management transactions expected to complete in Q4 FY26:

Strategic Fleet Management

The completion of Jag Lok's delivery demonstrates GE Shipping's active approach to fleet optimization. The company continues to balance its portfolio through strategic acquisitions and divestments, maintaining a diversified fleet across tanker and dry bulk segments. With the planned transactions in Q4 FY26, the company is positioning itself for continued operational flexibility in the maritime market.