Acquisitions30 Oct 2025, 08:11 pm
G E Shipping to Expand Fleet with Ultramax Dry Bulk Carrier Acquisition
AI Summary
The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy an Ultramax dry bulk carrier of about 63,500 dwt. The 2019 Japanese built vessel is expected to join the Company’s fleet by Q4 FY26. The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet. The Company’s current owned fleet stands at 41 vessels, comprising 27 tankers and 14 dry bulk carriers aggregating 3.37 mn dwt. The Company’s current capacity utilization is close to 100%. The company has also contracted to sell one of its Suezmax crude tanker and one Medium Range product tanker, expected to happen in Q3 FY26.
Key Highlights
- G E Shipping to acquire an Ultramax dry bulk carrier of about 63,500 dwt
- The vessel is a 2019 Japanese built ship
- The acquisition will be financed entirely from internal accruals
- The purpose of the acquisition is fleet expansion
- The company has also contracted to sell one Suezmax crude tanker and one Medium Range product tanker