Great Eastern Shipping Expands Fleet with New Tanker Acquisition
The Great Eastern Shipping Company Limited (G E Shipping) has announced a significant expansion of its fleet by contracting to purchase a secondhand Medium Range Tanker. The vessel, which has a deadweight tonnage of approximately 51,565 dwt, was built in South Korea in 2013. The acquisition is set to be finalized by December 31, 2025, with the tanker expected to join the company’s fleet in the fourth quarter of the fiscal year 2026. This strategic move aims to bolster the company’s operational capacity and enhance its service offerings in the maritime sector.
The acquisition will be financed entirely through internal accruals, reflecting G E Shipping’s commitment to maintaining financial stability while pursuing growth opportunities. Currently, the company operates a diverse fleet of 39 vessels, which includes 25 tankers—comprising five crude tankers, 16 product tankers, and four LPG carriers—as well as 14 dry bulk carriers. The total capacity of the fleet stands at an impressive 3.17 million dwt, with utilization rates nearing 100%. This high level of capacity utilization underscores the demand for the company’s services and the strategic importance of expanding its fleet.
Additional Fleet Transactions and Market Performance
In addition to the Medium Range Tanker acquisition, G E Shipping has engaged in several other fleet transactions. The company has contracted to purchase a secondhand Very Large Gas Carrier and an Ultramax Dry Bulk Carrier. Concurrently, it plans to sell one Kamsarmax Dry Bulk Carrier named “Jag Aarati” and a Very Large Gas Carrier called “Jag Vishnu.” These transactions are also expected to be completed in the fourth quarter of FY26, further refining the company’s operational capabilities and asset portfolio.
G E Shipping contracts to buy a secondhand Very Large Gas Carrier
On the stock market front, shares of The Great Eastern Shipping Company Limited were last traded at Rs. 1102.40 on the Bombay Stock Exchange (BSE), slightly down from the previous close of Rs. 1103.75. During the trading session, a total of 16,133 shares changed hands across more than 2,301 trades. The stock reached an intraday high of Rs. 1107.05 and a low of Rs. 1093.25, with a net turnover of approximately Rs. 17,775,667.00. This performance reflects ongoing investor interest in the company as it continues to expand its fleet and enhance its market position.
As G E Shipping moves forward with these strategic acquisitions and sales, it aims to strengthen its presence in the maritime industry and meet the growing demands of its clients.
