Great Eastern Shipping Expands Fleet with Secondhand Medium Range Tanker Acquisition
The Great Eastern Shipping Company Limited (G E Shipping) has announced a significant fleet expansion by contracting to purchase a secondhand Medium Range Tanker, with a deadweight tonnage of approximately 51,565 dwt. The acquisition is set to be finalized on December 31, 2025, with the vessel expected to join the company’s fleet in the fourth quarter of FY26. This strategic move aims to bolster the company’s operational capacity and enhance its market presence.
The vessel, built in South Korea in 2013, will be financed entirely through the company’s internal accruals. This approach underscores G E Shipping’s commitment to maintaining financial stability while expanding its fleet. 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, including two Capesize, 10 Kamsarmax, and two Supramax vessels. The total capacity of the fleet stands at 3.17 million dwt, with a utilization rate nearing 100%.
Additional Fleet Transactions and Market Performance
In addition to the Medium Range Tanker acquisition, G E Shipping has also contracted to purchase a secondhand Very Large Gas Carrier and an Ultramax Dry Bulk Carrier. Concurrently, the company plans to sell one Kamsarmax Dry Bulk Carrier, named “Jag Aarati,” and a Very Large Gas Carrier, “Jag Vishnu.” These transactions are anticipated to be completed in the same timeframe as the tanker acquisition, during Q4 FY26.
On the stock market front, shares of The Great Eastern Shipping Company Limited were last recorded trading on the Bombay Stock Exchange (BSE) at Rs. 1102.40, slightly down from the previous close of Rs. 1103.75. During the trading session, a total of 16,133 shares changed hands across over 2,301 trades. The stock reached an intraday high of Rs. 1107.05 and an intraday low of Rs. 1093.25, with a net turnover of Rs. 17,775,667.00.
This series of transactions reflects G E Shipping’s proactive approach to fleet management and market positioning, as the company continues to adapt to the evolving demands of the maritime industry.
