Acquisitions16 Jun 2026, 03:30 pm
Great Eastern Shipping Contracts to Buy Secondhand LR2 Tanker
AI Summary
Great Eastern Shipping Company Ltd has announced the acquisition of a secondhand Long Range 2 (LR2) Tanker, expected to join its fleet in Q2 FY27. The 2015-built vessel, with a capacity of approximately 110,000 dwt, will be financed through internal accruals. This acquisition is part of the company's fleet expansion strategy. GE Shipping currently operates a fleet of 39 vessels, with capacity utilization nearing 100%. The company also has another secondhand Medium Range Product Tanker purchase expected to complete in Q1 FY27.
Key Highlights
- GE Shipping contracts to acquire a secondhand LR2 Tanker.
- Vessel acquisition aims to expand the company's existing fleet.
- Financing for the purchase will be entirely from internal accruals.
- Acquisition expected to join fleet in Q2 FY27.
- Current fleet comprises 39 vessels; capacity utilization near 100%.
Price Impact
More from GESHIP