Great Eastern Shipping to sell Jag Lata Aframax crude carrier

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to divest its Aframax crude carrier — Jag Lata to undisclosed buyers.

The financial terms of the deal were not disclosed.

The 2003 built Aframax crude carrier, which is of nearly 105,716 deadweight tonnage (dwt), will be delivered to the buyers in the second quarter of the 2021-22 financial year.

Great Eastern Shipping said that including the Jag Lata vessel, its existing fleet comprises 46 vessels. These include 32 tankers — nine crude carriers, 18 product tankers, and five LPG carriers, and 14 dry bulk carriers.

Great Eastern Shipping to sell Jag Lata Aframax crude carrier. Photo courtesy of Jason Weeks from Pixabay.

The fleet has an average age of 12.06 years with a combined 3.68 million dwt.

Last month, Great Eastern Shipping said that it had completed delivery of Jag Vaayu, its 1996 built midsize gas carrier to undisclosed buyers. The Jag Vaayu vessel was contracted for sale in May 2021, said the Indian private sector shipping company.