The Great Eastern Shipping Company has contracted to purchase an Ultramax dry bulk carrier with a capacity of approximately 63,500 dwt. The acquisition, finalized on October 30, 2025, will add a 2019 Japanese-built vessel to the company’s fleet, expected to join by Q4 FY26. The purchase will be funded from internal accruals, supporting the company’s fleet expansion strategy.
Fleet Expansion
The Great Eastern Shipping Company Limited has announced the purchase of a new vessel to expand its dry bulk carrier fleet. The company finalized the contract on October 30, 2025, to acquire an Ultramax dry bulk carrier with a capacity of approximately 63,500 dwt.
Vessel Details and Integration
The newly acquired vessel is a 2019 Japanese-built carrier, expected to integrate into the company’s existing fleet by Q4 FY26. This addition will enhance the company’s capacity and service offerings in the dry bulk shipping sector.
Funding and Strategic Rationale
The acquisition will be fully financed through internal accruals, demonstrating the company’s financial strength and commitment to growth. This purchase aligns with the company’s strategic objectives to expand its fleet and capitalize on opportunities in the shipping market. The current owned fleet stands at 41 vessels.
Current Fleet and Capacity
The company’s existing fleet comprises 27 tankers (6 crude carriers, 17 product tankers, 4 LPG carriers) and 14 dry bulk carriers, aggregating 3.37 mn dwt. The current capacity utilization is close to 100%. The company has also contracted to sell one Suezmax crude tanker and one Medium Range product tanker with these two sale transactions expected to happen in Q3 FY26.
Source: BSE
