India’s Great Eastern Shipping has contracted to sell its Supramax dry bulk carrier Jag Rohan to an unaffiliated third party.
The Mumbai-based owner said the ship Jag Rohan of about 52,450 dwt, built in 2006, will be delivered to the new buyer by the third quarter of the fiscal year 2024.
Including Jag Rohan, Great Eastern Shipping’s current fleet stands at 42 vessels, comprising twenty-eight tankers (six crude carriers, eighteen product tankers, four LPG carrier) and fourteen dry bulk carriers (two capesize, seven kamsarmax, five supramax) aggregating 3.38 mn dwt.
The deal was sealed on September 27 to an unaffiliated third party, but no price was given for the vessel.
Earlier this month, the shipowner signed a contract to buy a medium range (MR) product tanker of about 46,197 dwt. The 2008-built vessel is expected to join the company’s fleet in the third quarter of fiscal year 2024.
The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is expansion of Great Eastern Shipping’s fleet, as the owner claims.
Making a flashback to the company´s history, two families -the Sheths and the Bhiwandiwallas- started their own shipping line to help expand the reach of their trading businesses.
Nowadays the company has two main businesses, shipping and offshore, with shipping involved in transportation of crude oil, petroleum products, gas and dry bulk commodities, whilst its offshore business services are carried out by its subsidiary Greatship (India) limited.
