G E Shipping contracts to buy a secondhand Very Large Gas Carrier
Great Eastern Shipping Expands Fleet with New Vessel Acquisition
The Great Eastern Shipping Company Limited (G E Shipping) has announced a significant expansion of its fleet by contracting to purchase a secondhand Very Large Gas Carrier (VLGC). The vessel, built in South Korea in 2015 and measuring approximately 84,048 cubic meters, is set to join the company’s fleet by December 19, 2025. This acquisition is part of G E Shipping’s strategy to enhance its operational capacity, with financing sourced entirely from internal funds.
Fleet Expansion and Current Operations
With this latest addition, G E Shipping aims to bolster its existing fleet, which currently consists of 40 vessels. This includes 26 tankers—comprising six crude carriers, 16 product tankers, and four LPG carriers—as well as 14 dry bulk carriers, totaling an impressive deadweight tonnage of 3.32 million. The company is operating at nearly full capacity, with utilization rates approaching 100%. This strategic move reflects G E Shipping’s commitment to maintaining a robust and versatile fleet to meet market demands.
In addition to the VLGC acquisition, G E Shipping has also contracted to buy a secondhand Ultramax Dry Bulk Carrier. Concurrently, the company plans to sell one Kamsarmax Dry Bulk Carrier named “Jag Aarati,” with both transactions expected to finalize in the fourth quarter of FY26. Furthermore, the company is set to sell a Suezmax Crude Tanker called “Jag Lok,” anticipated to be completed by the third quarter of FY26. These transactions highlight G E Shipping’s proactive approach to fleet management and optimization.
On the stock market, shares of The Great Eastern Shipping Company Limited were last recorded at Rs. 1,095.35 on the Bombay Stock Exchange, down from a previous close of Rs. 1,110.85. During the trading session, a total of 11,192 shares changed hands across more than 1,111 trades, with the stock reaching an intraday high of Rs. 1,134.30 and a low of Rs. 1,087.95. The day’s net turnover stood at Rs. 12,514,346.00, reflecting active trading interest in the company’s stock.
