The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated March 04, 2026, titled "G E Shipping contracts to buy a Kamsarmax Dry Bulk Carrier".
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Great Eastern Shipping Company has agreed to buy a secondhand Kamsarmax Dry Bulk Carrier of about 81,094 deadweight tonnes, built in Japan in 2014. The vessel is expected to join the company's fleet by Q1 FY27. The purchase will be funded entirely from internal accruals, with no debt involved. The company's current owned fleet stands at 41 vessels totalling 3.25 million dwt, and capacity utilisation is close to 100%. Separately, the company is also selling one Very Large Gas Carrier named 'Jag Vishnu', with that sale expected to close in Q4 FY26.
This is a routine fleet expansion move funded entirely from internal cash, which signals balance sheet strength and is neutral to mildly positive for shareholders. The near-100% capacity utilisation supports the case for fleet growth, though the simultaneous sale of a VLGC indicates ongoing portfolio rebalancing rather than aggressive expansion.