GE Shipping To Acquire Secondhand Medium Range Tanker

03 Apr 2026 CW Team

The Great Eastern Shipping Company Limited has contracted to acquire a secondhand Medium Range tanker of about 49,420 dwt on April 1, 2026. The 2014 built vessel is expected to join the company fleet in the first quarter of fiscal year FY27 and will be deployed to support commercial operations across existing trade lanes. The addition reflects the company's approach of augmenting capacity through selective secondhand purchases to meet demand.

The proposed vessel will be financed entirely from internal accruals and the company has characterised the transaction as a balance sheet neutral expansion of owned tonnage. The firm has also contracted to buy one secondhand Kamsarmax dry bulk carrier and that purchase is expected to be completed in the first quarter of fiscal year FY27. Together these acquisitions indicate a coordinated enhancement of tanker and dry bulk capabilities.

The company's current owned fleet stands at 40 vessels, comprising 26 tankers including five crude tankers, 17 product tankers and four LPG carriers, and 14 dry bulk carriers including two capesize, nine kamsarmax, one ultramax and two supramax. The fleet aggregates three point two million (mn) dwt and reported capacity utilisation is close to 100 per cent, which the company cited as a driver for acquiring additional secondhand tonnage. The profile of the fleet is intended to provide flexibility across trade cycles and cargo types.

The transactions were announced in Mumbai on April 1, 2026 and the company said the new tonnage will be integrated according to prevailing commercial requirements once delivery is complete. The acquisition programme aligns with previous statements on growth through measured purchases using internal resources and aims to preserve financial strength. Further enquiries may be directed to the corporate communications email address provided by the company.

Infrastructure Urban

03 Apr 2026

Centre Disburses Over Rs 24,610 mn in XV Finance Commission Grants

The Union Government has released XV Finance Commission tied grants during the financial year 2025–26 to rural local bodies in Chhattisgarh, Gujarat, Madhya Pradesh, Punjab and Sikkim and has released withheld portions of tied and untied grants to Himachal Pradesh, Odisha and Tripura. The total disbursal exceeded Rs 24,610 mn, with figures expressed in million (mn) thereafter. The releases cover allocations pertaining to different financial years and aim to strengthen rural local governance. State-wise disbursements included Rs 3,324.6 mn for Punjab, Rs 9,432.7 mn for Madhya Pradesh, Rs 3,47..

Centre Releases Over Rs 15 bn as XV FC Grants to Rural Bodies

The Union Government has released over Rs 15 bn in grants recommended by the Fifteenth Finance Commission (XV FC) to strengthen Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) in six states. The funds comprise tied and untied grants disbursed in FY 2025–26. Telangana received Rs 2.48 bn as the first instalment of untied grants for FY 2025–26, benefitting 12600 Gram Panchayats (GPs). Uttarakhand received Rs 913.1 mn as the second instalment and an additional Rs 18.4 mn of a withheld first instalment was released to a further 216 GPs. Mizoram is included among beneficiary st..

Government Assures Fuel Supplies And Seafarer Safety Amid West Asia Developments

The Government of India has stepped up coordinated measures to maintain stability in critical sectors as developments in West Asia continue to unfold. It has prioritised uninterrupted energy supplies, safeguarded maritime operations and extended consular assistance to nationals. Central authorities are working with State and Union territory administrations to ensure timely information dissemination and operational continuity. Refineries are reported to be operating at high capacity with adequate inventories of petrol and diesel, and domestic LPG production has been increased to support consump..