The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated July 25, 2025, titled "The Company has contracted to buy a Kamsarmax Dry Bulk Carrier of about 81,843 dwt on July 25, 2025. The 2015 built vessel is expected to join the Company s fleet by Q3 FY26. ".
GESHIP · price
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Awaiting price reaction for this filing.
G E Shipping has agreed to buy a 2015-built Kamsarmax Dry Bulk Carrier of about 81,843 deadweight tonnes. The vessel is expected to join the company's fleet by Q3 FY26 (i.e., by around December 2025). After delivery, the company's owned fleet will grow to 39 vessels totalling about 3.13 million dwt, up from the current 38 vessels totalling 3.04 million dwt (26 tankers and 12 dry bulk carriers). The purchase is being financed entirely from internal accruals, with no debt being raised. The company described its current capacity utilisation as close to 100%, and said the purpose of the acquisition is fleet modernisation and expansion. The cost of the vessel was not disclosed in the filing.
This is a modest, debt-free fleet expansion that adds about 3% to the company's total tonnage. With capacity utilisation near 100%, the new vessel should contribute to revenue fairly quickly after delivery. No immediate material impact on stock price is expected, but it signals confidence in dry bulk demand.