Great Eastern Shipping expands fleet, sells tankers

Great Eastern Shipping Company Limited has contracted to purchase a secondhand Very Large Gas Carrier (VLGC) with a capacity of approximately 84,048 cbm. The 2015 South Korean-built vessel is slated to join the company's fleet in Q4 FY26 and will be financed entirely through internal accruals, with the acquisition aimed at fleet expansion.

The company's current owned fleet stands at 40 vessels, including 26 tankers and 14 Dry Bulk Carriers, operating at nearly 100% capacity utilization. In addition to the VLGC, Great Eastern Shipping is also acquiring an Ultramax Dry Bulk Carrier and selling a Kamsarmax Dry Bulk Carrier "Jag Aarati," both expected to finalize in Q4 FY26.

Furthermore, the company has contracted to sell a Suezmax Crude Tanker named "Jag Lok," with completion anticipated in Q3 FY26. These transactions highlight a dynamic fleet management strategy aimed at optimizing asset utilization and expanding operational capabilities.