Great Eastern Shipping Company has signed an agreement to sell its very large gas carrier 'Jag Vishnu' as part of its ongoing fleet management strategy. The agreement was executed on December 26, 2025, with the vessel contracted for sale to an unaffiliated third party.

Vessel Sale Specifications

The 'Jag Vishnu', built in 2002, represents a significant asset in the company's gas transportation segment with substantial cargo capacity. The vessel has been operating for over two decades as part of the company's fleet operations.

Fleet Composition After Transaction

Following the completion of this sale, Great Eastern Shipping's owned fleet will stand at 39 vessels. The company's diversified fleet composition spans multiple vessel categories across different shipping segments.

Additional Fleet Transactions Planned

The company has lined up multiple fleet transactions during the same period as part of its comprehensive fleet optimization strategy. These additional transactions demonstrate the company's active approach to fleet management and capital deployment.

Great Eastern Shipping has contracted to purchase one second-hand very large gas carrier and one second-hand Ultramax dry bulk carrier. Simultaneously, the company has agreed to sell another vessel, the Kamsarmax dry bulk carrier 'Jag Aarati'. All these transactions are expected to be completed in Q4 FY26.

Strategic Fleet Optimization

The sale of 'Jag Vishnu' aligns with the company's efforts to optimize fleet composition and capital deployment across vessel segments. By disposing of older vessels while acquiring strategic assets, the company maintains its operational capacity while modernizing its fleet profile. The 23-year-old vessel's disposal represents typical industry practices of periodic fleet renewal and efficient asset management.

The National Company Law Tribunal (NCLT) has ordered the dissolution of Greatship Oilfield Services Limited following the company's voluntary liquidation proceedings. This development marks the formal conclusion of the winding-up process for the oilfield services entity.

Corporate Dissolution Process

The tribunal's order represents the final step in the voluntary liquidation process that was initiated by Greatship Oilfield Services Limited. Under the voluntary liquidation framework, companies can choose to wind up their operations when they determine it is in the best interest of stakeholders.

NCLT's Role in Corporate Dissolution

The National Company Law Tribunal serves as the judicial authority for corporate matters under the Companies Act. The tribunal's dissolution order formally terminates the legal existence of Greatship Oilfield Services Limited, completing all necessary regulatory procedures.

Implications of the Order

The NCLT's dissolution order concludes all corporate formalities related to Greatship Oilfield Services Limited. This action effectively removes the company from the official registry, marking the end of its corporate existence following the completion of the voluntary liquidation process.

It's worth noting that Greatship Oilfield Services Limited was a subsidiary of Great Eastern Shipping Company , a prominent player in the shipping industry.