Acquisitions19 Dec 2025, 05:51 pm
G E Shipping Contracts to Buy a Secondhand Very Large Gas Carrier and Two Other Vessels
AI Summary
The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a secondhand Very Large Gas Carrier of about 84,048 cbm, one secondhand Ultramax Dry Bulk Carrier, and sell one Kamsarmax Dry Bulk Carrier and one Suezmax Crude Tanker. The 2015 South Korean built gas carrier is expected to join the Company’s fleet in Q4 FY26, while the other transactions are expected to be completed in Q3 and Q4 FY26. The proposed vessel will be financed entirely from internal accruals with the purpose of expanding the fleet. The Company’s current owned fleet stands at 40 vessels, comprising 26 tankers and 14 Dry Bulk Carriers aggregating 3.32 Mn dwt. The Company’s current capacity utilization is close to 100%.
Key Highlights
- G E Shipping contracts to buy a secondhand Very Large Gas Carrier of about 84,048 cbm
- The gas carrier is a 2015 South Korean built vessel expected to join the Company’s fleet in Q4 FY26
- The proposed vessel will be financed entirely from internal accruals for fleet expansion
- G E Shipping also contracts to buy one secondhand Ultramax Dry Bulk Carrier and sell one Kamsarmax Dry Bulk Carrier and one Suezmax Crude Tanker
- The Company’s current owned fleet stands at 40 vessels, comprising 26 tankers and 14 Dry Bulk Carriers aggregating 3.32 Mn dwt, with close to 100% capacity utilization