GE Shipping to Expand Fleet with Acquisition of Secondhand Medium Range Tanker and Kamsarmax Dry Bulk Carrier

The Great Eastern Shipping Company Limited (GE Shipping) has contracted to buy a secondhand Medium Range Tanker of about 49,420 dwt and a secondhand Kamsarmax Dry Bulk Carrier. The 2014 built tanker is expected to join the Company’s fleet in Q1 FY27, while the dry bulk carrier purchase is expected to be completed in the same quarter. The proposed vessels will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet, which currently stands at 40 vessels, comprising 26 Tankers and 14 Dry Bulk Carriers. The Company’s current capacity utilization is close to 100%.