Great Eastern Shipping Company has agreed to acquire a 2015-built very large gas carrier (VLGC) with a capacity of approximately 82,000 cubic metres, continuing its fleet expansion through the secondhand vessel market.
The Mumbai-based shipping company said the vessel is expected to join its fleet during the December quarter. The company has not disclosed the vessel’s name, seller or purchase price. The acquisition will be funded entirely through internal resources.
The latest deal follows a series of secondhand vessel acquisitions and disposals as Great Eastern Shipping continues to renew and diversify its fleet.
The company currently owns 40 vessels with a combined capacity of 3.24 million deadweight tonnes (dwt). Its fleet comprises 25 tankers and gas carriers and 15 dry bulk carriers. The tanker segment includes five crude carriers, 16 product tankers and four LPG carriers, while the dry bulk fleet consists of two capesize, 10 kamsarmax, one ultramax and two supramax vessels.
In addition to the VLGC acquisition, Great Eastern Shipping has agreements to acquire two secondhand kamsarmax bulk carriers, with the transactions also expected to be completed during the December quarter.
The company has separately committed to a newbuilding suezmax tanker scheduled for delivery in the second half of the 2028–29 financial year.
Great Eastern Shipping’s latest purchase underscores its continued investment in secondhand tonnage alongside the disposal of older vessels. By September, the company had already spent more than $200 million on secondhand vessel acquisitions during the year, according to earlier reports.