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.

Great Eastern Shipping Company has announced a significant expansion to its fleet with the acquisition of a Suezmax Crude Carrier. The company, known for its strong presence in the shipping industry, made this strategic move to enhance its operational capabilities and market position.

Acquisition Details

On August 25, 2025, Great Eastern Shipping contracted to purchase a Suezmax Crude Carrier with the following specifications:

• Deadweight: Approximately 164,715 dwt
• Year Built: 2010
• Expected Delivery: Q3 FY26 (October-December 2025)

Financial Aspects

The company has stated that the acquisition will be financed entirely from internal accruals, demonstrating its strong financial position and commitment to growth without external funding. This approach highlights Great Eastern Shipping's prudent financial management and liquidity strength.

Current Fleet Status

As of the announcement date, Great Eastern Shipping's fleet composition stands at:

Tankers include:

• 5 crude carriers
• 17 product tankers
• 4 LPG carriers

Total fleet capacity: 3.04 million dwt

The company reports that its current capacity utilization is close to 100%, indicating efficient operations and strong market demand for its services.

Future Fleet Outlook

This latest acquisition is part of a broader fleet expansion strategy. Great Eastern Shipping had previously contracted to buy a Kamsarmax Dry Bulk Carrier in July 2025, which is also expected to join the fleet in Q3 FY26. Upon delivery of both vessels:

• Total fleet size will increase to 40 vessels
• Aggregate fleet capacity will reach 3.29 million dwt

Industry Implications

The acquisition of the Suezmax Crude Carrier signifies Great Eastern Shipping's confidence in the crude oil transportation market. Suezmax tankers, capable of carrying approximately 1 million barrels of oil, are versatile vessels that can serve various global trade routes, potentially opening up new opportunities for the company.

Company's Strategic Vision

This fleet expansion aligns with Great Eastern Shipping's strategy to maintain a modern and diverse fleet capable of meeting evolving market demands. The company's focus on internal funding for these acquisitions suggests a strong balance sheet and a cautious approach to growth, which may be viewed positively by investors and industry analysts.

Great Eastern Shipping continues to solidify its position in the maritime industry through strategic fleet expansions, demonstrating its commitment to growth and operational excellence in the competitive shipping market.