Great Eastern Shipping Boosts Fleet Renewal Program, Secures 2013-Built MR Tanker in Latest Fleet Upgrade

Indian-owned Great Eastern Shipping has continued its product tanker fleet renewal program with the acquisition of a 2013-built MR vessel.

The diversified Mumbai-listed company announced that the unnamed 49,990 dwt ship is expected to be delivered by the end of September, though the price remains undisclosed.

Great Eastern has been actively rejuvenating its tanker fleet this year, engaging in several transactions that involve selling older vessels and acquiring newer ones. Recently, the company sold its 2004-built 48,700 dwt MR, Jag Pranam, but did not reveal the financial details of the sale.

Upon completion of all transactions, Great Eastern will possess a fleet of 43 vessels. This fleet includes a nearly fully-utilized mix of 29 crude and product carriers, four LPG carriers, and 14 bulkers.

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