The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated December 31, 2025, titled "G E Shipping contracts to buy a secondhand Medium Range Tanker ".
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G E Shipping has signed a deal to buy a secondhand Medium Range (MR) Tanker of about 51,565 deadweight tonnes (dwt), built in 2013 in South Korea. The vessel is expected to join the company's fleet in Q4 FY26, i.e., January–March 2026. The purchase will be funded entirely from internal accruals, meaning no new borrowing. The company currently operates 39 vessels (25 tankers and 14 dry bulk carriers) totalling 3.17 million dwt, and its fleet is running at near 100% capacity utilisation, indicating strong demand. Additionally, the company has lined up further moves in Q4 FY26: buying one secondhand VLGC and one Ultramax dry bulk carrier, while selling one Kamsarmax ('Jag Aarati') and one VLGC ('Jag Vishnu').
This is a fleet expansion move backed by strong utilisation, funded internally, so it should not pressure debt levels. For shareholders, it signals confidence in shipping demand and gradual growth of the tanker segment, though the net effect on earnings will depend on the purchase price and future freight rates.