The Great Eastern Shipping Company Limited (GE Shipping) has announced the acquisition of a secondhand Long Range 2 Tanker, approximately 110,000 dwt, on June 16, 2026. The 2015-built vessel is expected to join the company’s fleet in Q2 FY27. The acquisition will be financed through internal accruals and is aimed at expanding the company’s fleet. GE Shipping also recently contracted to buy a secondhand Medium Range Product Tanker, expected to complete in Q1 FY27.
Fleet Expansion Through Acquisition
The Great Eastern Shipping Company Limited (GE Shipping) has entered into a contract to acquire a secondhand Long Range 2 Tanker. The vessel is approximately 110,000 dwt and the transaction took place on June 16, 2026. This strategic move aims to expand the company’s existing fleet. The newly acquired 2015-built tanker is anticipated to be integrated into GE Shipping’s fleet during the second quarter of the financial year 2027 (Q2 FY27).
Financing and Fleet Details
The company has confirmed that the acquisition of this secondhand tanker will be financed entirely from its internal accruals. This expansion initiative is a direct result of the company’s strategy to enhance its operational capacity. GE Shipping’s current fleet comprises 39 vessels. This includes 24 Tankers (5 Crude Tankers, 15 Product Tankers, and 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, and 2 Supramax), with an aggregate capacity of 3.19 million dwt. The company is currently operating at a capacity utilization rate close to 100%.
Additional Vessel Acquisition
In addition to the Long Range 2 Tanker, GE Shipping has also contracted to purchase another secondhand vessel, a Medium Range Product Tanker. This transaction is slated for completion in the first quarter of the financial year 2027 (Q1 FY27), further reinforcing the company’s growth trajectory and market presence in the shipping sector.
Source: BSE
