The Great Eastern Shipping Company Limited (GE Shipping) has announced the acquisition of a secondhand Medium Range Tanker, with a capacity of about 49,420 deadweight tonnage (dwt). The purchase, finalised on April 1, 2026, is set to bolster the company’s fleet in the first quarter of the financial year 2027 (Q1 FY27).
The 2014-built vessel will be financed entirely through GE Shipping’s internal accruals, reflecting the company’s robust financial health and strategic focus on fleet expansion. This acquisition aligns with the company’s ongoing efforts to enhance its operational capabilities and market presence.
Currently, GE Shipping’s owned fleet comprises 40 vessels, which include 26 tankers (5 crude tankers, 17 product tankers, and 4 LPG carriers) and 14 dry bulk carriers (2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax), collectively aggregating 3.20 million dwt. The company’s capacity utilisation is reported to be near 100%, indicating efficient operations and high demand for its shipping services.
In addition to the tanker acquisition, GE Shipping has also contracted to purchase a secondhand Kamsarmax Dry Bulk Carrier. This transaction is anticipated to be completed in Q1 FY27, further expanding the company’s dry bulk capabilities.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).