The Great Eastern Shipping Company (GE Shipping) has contracted to acquire a secondhand very large gas carrier (VLGC) with a capacity of about 82,000 cubic metres, as it expands its fleet to meet demand for shipping services.
The vessel, built in 2015, is expected to join the company’s fleet in the third quarter of FY27. The acquisition contract was signed on October 23 and will be funded entirely through internal accruals, the company said in a stock exchange filing on Friday.
GE Shipping’s owned fleet currently comprises 40 vessels — 25 tankers and 15 dry bulk carriers — with a combined capacity of 3.24 million deadweight tonnes (dwt). The tanker fleet includes five crude tankers, 16 product tankers and four liquefied petroleum gas (LPG) carriers. Its dry bulk fleet comprises two Capesize, 10 Kamsarmax, one Ultramax and two Supramax vessels.
The company said its fleet capacity utilisation was close to 100%.
More vessels due to join the fleet
GE Shipping has also contracted to buy two secondhand Kamsarmax dry bulk carriers, with both acquisitions expected to be completed in the third quarter of FY27.
Separately, the company has contracted to acquire a new-build Suezmax tanker, scheduled for delivery in the second half of FY29.
The VLGC and the two Kamsarmax vessels are expected to join the fleet in the third quarter of FY27, while the new-build Suezmax tanker is due in the second half of FY29.
Shares of GE Shipping closed at ₹1,496.90 on the NSE on Friday, down ₹21.70, or 1.43%.
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