The Great Eastern Shipping Company Limited (GE Shipping) has contracted to buy a secondhand kamsarmax dry bulk carrier on September 8.
The 2029-built vessel of about 81,609-dwt is expected to join the company’s fleet in the third quarter of FY27.
“The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet,” the company said in a stock exchange filling on September 8.
The company’s current owned fleet stands at 40 vessels, comprising 25 tankers (5 crude tankers, 16 product tankers, 4 LPG carriers) and 15 dry bulk carriers (2 capesize, 10 kamsarmax, 1 ultramax, 2 supramax) aggregating 3.24 mn dwt.
The company’s current capacity utilization is close to 100%.
Additionally, the company has contracted to acquire one additional secondhand kamsarmax dry bulk carrier, and this transaction is expected to be completed in the third quarter of FY27.
