GE Shipping to expand fleet, buy South Korea made tanker

The Great Eastern Shipping Company Ltd (GE Shipping) on December 31, 2025, said it will acquire a secondhand medium range tanker with a deadweight tonnage (DWT) of about 51,565.

The vessel, built in South Korea in 2013, is expected to be inducted into the company’s fleet in the fourth quarter of FY26. GE Shipping said the acquisition will be funded entirely through internal accruals and is aimed at expanding its fleet.

Following the purchase, the company’s owned fleet will be at 39 vessels, comprising

25 tankers — including crude, product and LPG carriers — and 14 dry bulk carriers. The total fleet capacity stands at around 3.17 million DWT, with utilisation currently close to 100%.

Separately, the company said it has also contracted to buy a secondhand very large gas carrier and a second-hand Ultramax dry bulk carrier, while selling one Kamsarmax dry bulk carrier, Jag Aarati, and one very large gas carrier, Jag Vishnu. These transactions are expected to be completed in Q4FY26.

Shares of Great Eastern Shipping ended higher on Wednesday, December 31, by 2.43% at 1129.00 on the NSE.

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