GE Shipping To Buy Secondhand Kamsarmax Carrier

10 Mar 2026 CW Team

The Great Eastern Shipping Company Limited (GE Shipping) has contracted to acquire a secondhand Kamsarmax dry bulk carrier of about 81,094 deadweight tonnage (dwt) on March four, 2026. The vessel was built in Japan in 2014 and is expected to join the company fleet by the first quarter of FY27. The vessel will augment the company's dry bulk offering and provide additional carriage capacity across existing trading routes.

The acquisition will be financed entirely from internal accruals and is intended to expand capacity without increasing external leverage. Management said the purchase supports operational flexibility and complements existing dry bulk capabilities. The transaction timing is aligned with anticipated market requirements for dry bulk tonnage.

GE Shipping'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 use of mn is the standard abbreviation for million. This scale gives the company operational scale and commercial flexibility in meeting customer requirements and the company's capacity utilisation remains close to 100 per cent.

Separately, the company has contracted to sell one very large gas carrier, Jag Vishnu, with the sale expected to complete in the fourth quarter of FY26. The completion of that sale and the induction of the acquired Kamsarmax are planned to be managed within the company's operating calendar. Further regulatory filings and stock exchange disclosures will follow as required under applicable rules. Enquiries have been directed to the corporate communications channel for further details.

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