India’s Great Eastern Shipping Acquires 157,000 DWT Suezmax Newbuild
Indian shipowner Great Eastern Shipping has recently made headlines with its announcement of the acquisition of a newbuild 157,000 DWT Suezmax tanker. The vessel, currently under construction at a shipyard in the Far East, is expected to be delivered between October 2028 and March 2029.
Details of the Acquisition
Great Eastern Shipping has not disclosed specific details such as the purchase price, propulsion system specifications, or the name of the shipyard responsible for the construction. However, the company has revealed that the acquisition is being financed through internal resources. This move marks a significant milestone for Great Eastern Shipping as it signifies the company’s shift towards newbuild vessels under its fleet renewal program, moving away from its previous focus on secondhand vessel purchases.
Background and Future Plans
Reports indicate that the vessel was initially ordered by Zodiac Maritime, a company controlled by Israeli shipping tycoon Eyal Ofer, from Samsung Heavy Industries’ shipyard in Vietnam. The original order placed by Zodiac Maritime was for a 157,000 DWT Suezmax tanker valued at around $85 million, with a projected delivery date in 2029.
Currently, Great Eastern Shipping operates a fleet of 40 vessels with a total deadweight tonnage of approximately 3.24 million tonnes. This fleet includes 21 tankers, 15 bulk carriers, and 4 LPG carriers. In addition to the recent newbuild acquisition, the company also has two Kamsarmax bulk carriers on order, set for delivery in the fourth quarter of 2026.
With this latest addition to its fleet, Great Eastern Shipping continues to solidify its position in the maritime industry and expand its presence in the global shipping market. Stay tuned for more updates on the company’s future endeavors and strategic growth initiatives.
