Acquisitions30 Apr 2026, 11:14 am
GE Shipping takes delivery of 2014 Kamsarmax Dry Bulk Carrier "Jag Abhishek"
AI Summary
Great Eastern Shipping Company Ltd (GE Shipping) took delivery of the 2014 Japanese-built Kamsarmax Dry Bulk Carrier "Jag Abhishek" (81,094 dwt) on April 30, 2026. The company had contracted to buy this vessel in Q4 FY26, financing it entirely from internal accruals. This addition increases GE Shipping's owned fleet to 41 vessels, comprising 26 Tankers and 15 Dry Bulk Carriers, totaling 3.28 mn dwt. The company's current capacity utilization is nearly 100%. GE Shipping also has plans to acquire one secondhand Medium Range Tanker and sell two existing Medium Range Tankers, "Jag Prakash" and "Jag Pankhi," with these transactions expected to conclude in Q1 FY27.
Key Highlights
- GE Shipping took delivery of the 2014 Kamsarmax Dry Bulk Carrier "Jag Abhishek".
- The vessel, acquired in Q4 FY26, was fully financed by internal accruals.
- The owned fleet now stands at 41 vessels, totaling 3.28 mn dwt.
- Current capacity utilization is close to 100%.
- Company plans further fleet adjustments in Q1 FY27.