New Launch2 Sept 2025, 02:38 pm
G E Shipping Contracts to Buy Three Ships, Expanding Fleet to 41 Vessels and 3.37 mn dwt
AI Summary
The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy three vessels: a Kamsarmax dry bulk carrier of about 81,922 dwt, a secondhand Kamsarmax dry bulk carrier, and a Suezmax crude carrier. The 2016 built Kamsarmax dry bulk carrier is expected to join the Company’s fleet by Q3 FY26, along with the other two vessels. The Company’s current owned fleet stands at 38 vessels, comprising 26 tankers and 12 dry bulk carriers aggregating 3.04 mn dwt. The proposed ships will be financed entirely from internal accruals, with the purpose of expanding the fleet. Post delivery of these 3 vessels, the Company will have 41 vessels aggregating 3.37 mn dwt.
Key Highlights
- G E Shipping contracts to buy a Kamsarmax dry bulk carrier of about 81,922 dwt, a secondhand Kamsarmax dry bulk carrier, and a Suezmax crude carrier.
- The 2016 built Kamsarmax dry bulk carrier is expected to join the Company’s fleet by Q3 FY26, along with the other two vessels.
- The Company’s current owned fleet stands at 38 vessels, comprising 26 tankers and 12 dry bulk carriers aggregating 3.04 mn dwt.
- The proposed ships will be financed entirely from internal accruals.
- Post delivery of these 3 vessels, the Company will have 41 vessels aggregating 3.37 mn dwt.