The Great Eastern Shipping Company Limited has informed the Exchange regarding a press release dated April 01, 2026, titled "Press Release".
GESHIP · price
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GE Shipping has contracted to buy a secondhand Medium Range Tanker (49,420 dwt, built 2014) for approximately Rs 175-180 crore. The vessel is expected to join the fleet in Q1 FY27. The company is also buying one secondhand Kamsarmax Dry Bulk Carrier, expected to be delivered in Q1 FY27. Both purchases will be financed entirely from internal accruals. The current owned fleet stands at 40 vessels (3.20 mn dwt) with capacity utilization close to 100%.
Fleet expansion signals growth ambitions amid tight capacity. This strengthens GE Shipping's tonnage without taking on debt, which is positive for shareholders. The acquisition addresses high utilization levels.