Acquisitions4 Mar 2026, 04:00 pm
GE Shipping to Expand Fleet with Kamsarmax Dry Bulk Carrier Acquisition
AI Summary
The Great Eastern Shipping Company Limited (GE Shipping) has contracted to buy a secondhand Kamsarmax Dry Bulk Carrier of about 81,094 dwt, built in Japan in 2014. The vessel is expected to join the company’s fleet by Q1 FY27 and will be financed entirely from internal accruals. This acquisition aims to expand the company’s fleet, which currently stands at 41 vessels, including 27 Tankers and 14 Dry Bulk Carriers. The company's current capacity utilization is close to 100%. Additionally, GE Shipping has contracted to sell one Very Large Gas Carrier, 'Jag Vishnu', expected to be completed in Q4 FY26.
Key Highlights
- GE Shipping to acquire a secondhand Kamsarmax Dry Bulk Carrier of about 81,094 dwt
- The vessel is a 2014 Japanese built and expected to join the fleet by Q1 FY27
- The acquisition will be financed entirely from internal accruals
- GE Shipping's current fleet consists of 41 vessels, including 27 Tankers and 14 Dry Bulk Carriers
- The company has also contracted to sell one Very Large Gas Carrier, 'Jag Vishnu'