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.

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