The 2015-built South Korean 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 40 vessels, comprising 26 tankers (6 crude carriers, 16 product tankers, 4 LPG carriers) and 14 dry bulk carriers aggregating 3.32 million deadweight tonnage. The company’s current capacity utilization is close to 100%.
Additionally, the company has contracted to buy one secondhand ultramax dry bulk carrier and sell one kamsarmax dry bulk carrier “Jag Aarati”, and these transactions are expected to be completed in Q4 FY26.
The company has also contracted to sell oG E Shipping)ne suezmax crude tanker “Jag Lok”, and this transaction is expected to be completed in Q3 FY26.
Great Eastern Shipping Company (GE Shipping), along with its subsidiaries is a major player in the Indian shipping and oil drilling services industry.
The company's consolidated net profit rose 1.01% to Rs 581.41 crore in Q2 FY26 as against Rs 575.57 crore in Q2 FY25. Revenue from operations tanked 8.31% to Rs 1,241.78 crore as against Rs 1,354.40 crore posted in Q2 FY25.
The scrip rose 0.47% to currently trade at Rs 1100.45 on the BSE.