G E Shipping signs deal to buy Kamsarmax dry bulk carrier
Great Eastern Shipping Expands Fleet with New Acquisition
The Great Eastern Shipping Company (G E Shipping) has announced a significant addition to its fleet, contracting to purchase a Kamsarmax dry bulk carrier with a deadweight tonnage of approximately 81,922. This vessel, built in 2016, is expected to join the company’s operations by the third quarter of FY26. This acquisition marks a strategic move to enhance the company’s shipping capabilities.
Current Fleet and Future Plans
With this latest contract, G E Shipping continues to strengthen its position in the maritime industry. The company currently owns a fleet of 38 vessels, which includes 26 tankers—comprising five crude carriers, 17 product tankers, and four LPG carriers—as well as 12 dry bulk carriers. Collectively, these vessels represent a total deadweight tonnage of 3.04 million. Notably, the company is operating at nearly full capacity, with utilization rates close to 100%.
In addition to the newly contracted Kamsarmax carrier, G E Shipping has plans for further expansion. The company has also secured a secondhand Kamsarmax dry bulk carrier, set to be acquired in July 2025, along with a Suezmax crude carrier, which is expected to be purchased in August 2025. Both of these vessels are anticipated to be integrated into the fleet by the same timeframe as the Kamsarmax carrier, further bolstering the company’s operational capabilities.
Importantly, the financing for the new ship will be sourced entirely from internal accruals, reflecting the company’s commitment to sustainable growth and fleet expansion. This strategic acquisition underscores G E Shipping’s dedication to enhancing its service offerings in the competitive shipping market.
