GE Shipping Buys Secondhand Kamsarmax Vessel

10 Mar 2026 CW Team

GE Shipping has contracted to acquire a secondhand Kamsarmax dry bulk carrier of about 81,094 deadweight tonnage (dwt) on March four, 2026. The 2014 Japanese built vessel is expected to join the company’s fleet in the first quarter of fiscal year 2027. The announcement was issued by the company through a press release and the transaction is recorded as an acquisition to expand fleet capacity. The vessel is sized to complement the company’s existing dry bulk assets and to enhance operational flexibility.

The proposed vessel will be financed entirely from internal accruals and the company stated that the acquisition is aimed at fleet expansion. Management indicated that the purchase aligns with existing strategic plans to optimise asset mix and deploy tonnage to meet market demand. No further financing or capital raising is planned for this purchase. Using internal accruals is intended to preserve financial flexibility and avoid additional leverage.

The company’s current owned fleet stands at 41 vessels, comprising 27 tankers, including five crude tankers, 17 product tankers and five LPG carriers, and 14 dry bulk carriers, including two Capesize, nine Kamsarmax, one Ultramax and two Supramax, aggregating 3.25 million (mn) deadweight tonnage (dwt). The company’s capacity utilisation is close to 100 per cent and existing employment levels for owned tonnage remain high. The addition of the vessel is intended to support commercial flexibility across trades.

Additionally, the company has contracted to sell one Very Large Gas Carrier named Jag Vishnu and expects the sale transaction to be completed in the fourth quarter of fiscal year 2026. The company noted that disposals form part of fleet management and this sale will be finalised as per agreed timelines. For further corporate communications the company provided a contact email in the press release.

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