Great Eastern Shipping Company (G E Shipping) has contracted to buy a secondhand Medium Range Tanker of about 51,565 dwt on 31 December 2025. The 2013 South Korean built vessel is expected to join the Company's fleet in Q4 FY26.
The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet.
The company's current owned fleet stands at 39 vessels, comprising 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers) and 14 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 2 Supramax) aggregating 3.17 mn dwt. The Company's current capacity utilization is close to 100%.
Additionally, the company has contracted to buy one secondhand Very Large Gas Carrier, buy one secondhand Ultramax Dry Bulk Carrier, sell one Kamsarmax Dry Bulk Carrier “Jag Aarati” and sell one Very Large Gas Carrier “Jag Vishnu”. These purchase and sale transactions are expected to be completed in Q4 FY26.