GE Shipping Contracts to Buy Secondhand VLGC

Great Eastern Shipping Company Ltd (GE Shipping) has entered into a contract to acquire a secondhand Very Large Gas Carrier (VLGC) with a capacity of approximately 82,000 cbm. The vessel, built in 2015, is expected to join the company's fleet in the third quarter of Fiscal Year 2027 (Q3 FY27) and will be financed entirely through internal accruals. This acquisition is part of GE Shipping's fleet expansion strategy. The company's current fleet comprises 40 vessels, including 25 tankers and 15 dry bulk carriers. GE Shipping also has two secondhand Kamsarmax dry bulk carriers and a new-building Suezmax tanker on order, with deliveries expected in Q3 FY27 and H2 FY29 respectively. The company's capacity utilization is currently close to 100%.