Great eastern shipping company has announced the successful delivery of Medium Range Tanker 'Jag Pranesh' on February 24, 2026. The vessel acquisition marks another strategic addition to the company's expanding maritime fleet operations.

Vessel Specifications and Acquisition Details

The newly delivered tanker represents a significant investment in the company's operational capacity. Key details of the acquisition include:

The company had contracted to purchase the vessel during Q3 FY26, demonstrating its commitment to fleet expansion through strategic acquisitions. The financing of this vessel entirely through internal accruals reflects the company's strong financial position and cash generation capabilities.

Updated Fleet Composition

Following the delivery of 'Jag Pranesh', the company's owned fleet has reached 41 vessels with a total capacity of 3.25 mn dwt. The fleet composition showcases a diversified maritime portfolio:

The company maintains close to 100% capacity utilization across its fleet, indicating strong operational efficiency and market demand for its services.

Planned Divestment Activity

In addition to the fleet expansion, the company has contracted to sell one Very Large Gas Carrier named 'Jag Vishnu'. This strategic divestment is expected to be completed in Q4 FY26, reflecting the company's active portfolio management approach to optimize its fleet composition and capital allocation.

Operational Excellence

The current capacity utilization of close to 100% demonstrates the company's operational excellence and strong market positioning. This high utilization rate across the diversified fleet of tankers and dry bulk carriers indicates robust demand across multiple maritime segments and effective fleet deployment strategies.

Great Eastern Shipping Company has announced significant changes to its credit ratings profile, with CRISIL Ratings Limited providing updates on the company's Non-Convertible Debentures (NCDs). The shipping major informed stock exchanges about the rating agency's decision to withdraw ratings on certain debentures while reaffirming others.

Rating Withdrawal and Reaffirmation Details

CRISIL has taken a dual approach regarding Great Eastern Shipping's NCD portfolio. The rating agency withdrew its rating on Rs. 450.00 crore worth of Non-Convertible Debentures due to their full redemption. Simultaneously, CRISIL reaffirmed its AAA/Stable rating on the remaining Rs. 1,050.00 crore debentures, maintaining the highest credit quality assessment.

Regulatory Compliance and Communication

The company communicated these developments to both BSE Limited and National Stock Exchange of India Limited on February 23, 2026. This disclosure was made pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material rating changes.

Impact on Debt Portfolio

The rating actions result in a reduction of Great Eastern Shipping's total rated NCD portfolio from Rs. 1,500.00 crore to Rs. 1,050.00 crore. The withdrawal reflects the successful completion of debt obligations through full redemption, while the reaffirmation of the AAA/Stable rating on remaining debentures indicates CRISIL's continued confidence in the company's creditworthiness.

Corporate Communication

Company Secretary Anand Punde signed the official communication to stock exchanges, emphasizing the company's commitment to maintaining transparent disclosure practices. The notification ensures that investors and market participants remain informed about all material developments affecting the company's credit profile and debt instruments.