G E Shipping to Expand Fleet with Acquisition of Suezmax Crude Carrier

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a Suezmax Crude Carrier of about 164,715 dwt on August 25, 2025. The 2010 built vessel is expected to join the Company’s fleet by Q3 FY26. The Company’s current owned fleet stands at 38 vessels, comprising 26 tankers and 12 dry bulk carriers aggregating 3.04 mn dwt. The Company’s current capacity utilization is close to 100%. Additionally, the company has 1 Secondhand Kamsarmax Dry Bulk Carrier on order, which was contracted to buy in Jul’25 and expected to join the fleet by Q3 FY26. The proposed ship will be financed entirely from internal accruals. Post delivery of these 2 vessels, the Company will have 40 vessels aggregating 3.29 mn dwt.