G E Shipping Contracts to Buy a Secondhand Medium Range Tanker and Other Vessels

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a secondhand Medium Range Tanker of about 51,565 dwt, built in 2013 in South Korea. The 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. Additionally, the company has contracted to buy one secondhand Very Large Gas Carrier, one secondhand Ultramax Dry Bulk Carrier, sell one Kamsarmax Dry Bulk Carrier ‘Jag Aarati’ and one Very Large Gas Carrier ‘Jag Vishnu’. These purchase and sale transactions are expected to be completed in Q4 FY26. The company's current owned fleet stands at 39 vessels, comprising 25 Tankers and 14 Dry Bulk Carriers aggregating 3.17 mn dwt. The Company’s current capacity utilization is close to 100%.