The Great Eastern Shipping Company Limited (GE Shipping) announced the delivery of the 2015-built Kamsarmax Dry Bulk Carrier, named “Jag Amit”, with a deadweight tonnage of approximately 81,886 dwt. The company had originally contracted to purchase this vessel in Q2 FY27. This acquisition is financed entirely from internal accruals. Following this transaction, GE Shipping’s owned fleet now comprises 41 vessels, with a current capacity utilization nearing 100%.
GE Shipping Acquires New Vessel
The Great Eastern Shipping Company Limited (GE Shipping) has successfully taken delivery of a new asset for its fleet: the 2015-built Kamsarmax Dry Bulk Carrier, “Jag Amit”. This vessel has a deadweight tonnage of approximately 81,886 dwt. The company had previously entered into a contract to acquire this vessel during the second quarter of the financial year 2027 (Q2 FY27).
Financing and Fleet Expansion
The acquisition of “Jag Amit” has been entirely financed through the company’s existing internal accruals, demonstrating strong financial management. This latest addition brings GE Shipping’s total owned fleet to 41 vessels. The current fleet composition includes 25 Tankers and 16 Dry Bulk Carriers. Following this acquisition, the company’s capacity utilization is reported to be close to 100%.
Future Contracts
Looking ahead, GE Shipping has further expansion plans in motion. The company has also contracted to purchase another secondhand Kamsarmax dry bulk carrier and a secondhand Very Large Gas Carrier (VLGC). Both of these transactions are anticipated to be completed in Q3 FY27. Additionally, GE Shipping has secured a contract for a newbuilding Suezmax tanker, with its scheduled delivery set for the second half of FY 2028–29.
Source: BSE
