GE Shipping Contracts to Buy Secondhand Long Range Two Tanker

24 Jun 2026 CW Team

On 16 June 2026 The Great Eastern Shipping Company Limited contracted to acquire a secondhand Long Range two tanker of about 110,000 dwt. The vessel was built in 2015 and is expected to join the company’s fleet in the second quarter of fiscal year 27. The purchase was announced as part of routine fleet renewal and expansion activity.

The proposed vessel will be financed entirely from internal accruals and the company described the acquisition as intended to strengthen its tanker segment. The firm has also contracted to buy a secondhand Medium Range product tanker, with that purchase expected to be completed in the first quarter of fiscal year 27. Both transactions were presented as aligning with the company’s capital allocation and fleet strategy.

The company’s current owned fleet stands at 39 vessels comprising 24 tankers, including five crude tankers, 15 product tankers and four LPG carriers, and 15 dry bulk carriers including two Capesize, 10 Kamsarmax, one Ultramax and two Supramax. The owned fleet aggregates three point one nine million (mn) dwt and the company reported capacity utilisation close to 100 per cent. The deal is intended to address demand for product carriage and maintain service continuity.

The transaction is expected to be completed through established corporate procedures and standard closing arrangements in the coming quarters. The company listed Mumbai as the place of the announcement and dated the release 16 June 2026. For further information readers were directed to the company website and corporate communications email.

Management indicated that continued fleet replenishment supports long term service commitments and provides flexibility to meet charter market requirements. The company emphasised continued focus on safe operations and regulatory compliance. Stakeholders were advised to consult official filings for transaction updates.

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