The Great Eastern Shipping Company Limited has contracted to acquire a secondhand Medium Range tanker with a carrying capacity of about 51,565 dwt. The agreement was finalised on December 31, 2025, and the 2013-built South Korean vessel is expected to join the company’s fleet in the fourth quarter of FY26.

The acquisition will be funded entirely through internal accruals and is aimed at expanding the company’s tanker fleet. With this addition, GE Shipping continues to strengthen its presence in the global shipping market through selective fleet enhancement.

As of now, the company owns a fleet of 39 vessels, comprising 25 tankers, including five crude tankers, 16 product tankers and four LPG carriers, along with 14 dry bulk carriers. The dry bulk fleet includes two Capesize, 10 Kamsarmax and two Supramax vessels. The total carrying capacity of the fleet stands at approximately 3.17 million tonnes, with overall capacity utilisation close to 100 per cent.

Separately, the company has also entered into agreements to acquire a secondhand Very Large Gas Carrier and a secondhand Ultramax dry bulk carrier. In addition, it has agreed to sell one Kamsarmax dry bulk carrier, Jag Aarati, and one Very Large Gas Carrier, Jag Vishnu. These purchase and sale transactions are expected to be completed in the fourth quarter of FY26.