GE Shipping Contracts Acquisition of Tanker and Product Vessel for Fleet Expansion
The Great Eastern Shipping Company Limited (GE Shipping) has announced plans to expand its fleet through two significant contractual purchases. The company secured a contract to acquire one secondhand Long Range 2 Tanker, while also contracting for another secondhand Medium Range Product Tanker.The new Long Range 2 Tanker, which is built in 2015 and carries approximately 110,000 dwt, is expected to join the Company’s fleet in Q2 FY27. This acquisition will be financed entirely from internal accruals.
Furthermore, GE Shipping has contracted to buy a secondhand Medium Range Product Tanker, with this specific purchase transaction anticipated to conclude in Q1 FY27. The acquisitions are part of the company’s strategy for fleet expansion.
The Great Eastern Shipping Company Limited currently operates an owned fleet comprising 39 vessels, demonstrating a high capacity utilization rate close to 100%.
Current Fleet Composition:
| Vessel Type | Quantity |
|---|---|
| Crude Tankers | 5 |
| Product Tankers | 15 |
| LPG Carriers | 4 |
| Capesize Dry Bulk Carriers | 2 |
| Kamsarmax Dry Bulk Carriers | 10 |
| Ultramax Dry Bulk Carrier | 1 |
| Supramax Dry Bulk Carriers | 2 |
The company’s existing fleet, which includes both specialized tankers and various dry bulk carriers, aggregates a total capacity of 3.19 mn dwt.
GESHIP Stock Price Movement
The Great Eastern Shipping Company Limited shares edged higher in post-market trading today, closing at ₹1419.1 after gaining 2.48%. The stock traded a volume of 684,115 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.