The Great Eastern Shipping Company Limited (GE Shipping) announced on Wednesday that it has contracted to purchase a secondhand Medium Range Tanker of approximately 49,420 deadweight tonnes (dwt), with delivery expected in the first quarter of FY27.
The vessel, built in 2014, will be financed entirely from internal accruals. The company did not disclose the acquisition price. Shares of GE Shipping closed at ₹1,456.00 on the NSE on Wednesday, up 2.92 per cent or ₹41.30, against a previous close of ₹1,414.70. The stock touched an intraday high of ₹1,491.90 during the session.
The acquisition adds to the company’s existing owned fleet of 40 vessels, which comprises 26 tankers — including 5 crude tankers, 17 product tankers, and 4 LPG carriers — alongside 14 dry bulk carriers made up of 2 Capesize, 9 Kamsarmax, 1 Ultramax, and 2 Supramax vessels. The combined fleet aggregates 3.20 million dwt, with current capacity utilisation near 100 per cent.
Separately, the company also has a pending acquisition of one secondhand Kamsarmax Dry Bulk Carrier, which is also expected to close in Q1 FY27. Both purchases reflect the company’s stated strategy of fleet expansion.
GE Shipping, headquartered in Mumbai, is one of India’s largest private sector shipping companies, operating in the crude, product, and dry bulk segments.