The Great Eastern Shipping Company Limited has contracted to buy a secondhand Long Range 2 Tanker of about 110,000 deadweight tonnes on June 16, 2026. The 2015 built vessel is expected to join the company's fleet in the second quarter of FY27.
GE Shipping will finance the acquisition entirely from internal accruals. The purpose of the purchase is expansion of the fleet.
The Great Eastern Shipping Company is India's largest private sector shipping company. Its current owned fleet stands at 39 vessels aggregating 3.19 million deadweight tonnes.
The fleet comprises 24 Tankers, including 5 Crude Tankers, 15 Product Tankers, and 4 LPG Carriers. The remaining 15 vessels are Dry Bulk Carriers consisting of 2 Capesize, 10 Kamsarmax, 1 Ultramax, and 2 Supramax vessels.
Current capacity utilization across the fleet is close to 100 percent. GE Shipping has also contracted to buy one secondhand Medium Range Product Tanker. This purchase transaction is expected to be completed in the first quarter of FY27.
Once both acquisitions are closed, GE Shipping's owned fleet will increase to 41 vessels. Its shares trade on the National Stock Exchange under the symbol GESHIP and on the BSE with scrip code 500620. GE Shipping has not disclosed the financial terms of either transaction.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.