Great Eastern Shipping Company (G E Shipping) has contracted to acquire a secondhand Medium Range (MR) product tanker of about 51,565 dwt, with the agreement signed on 31 December 2025. The vessel, built in South Korea in 2013, is expected to join the company’s fleet in the fourth quarter of FY26.
The acquisition will be financed entirely through internal accruals and is aimed at expanding the company’s fleet amid strong capacity utilisation, which is currently close to 100%.
With this addition, G E Shipping continues to strengthen its asset base. The company’s existing owned fleet comprises 39 vessels with an aggregate capacity of about 3.17 million dwt. This includes 25 tankers—five crude tankers, 16 product tankers and four LPG carriers—and 14 dry bulk carriers, consisting of two Capesize, 10 Kamsarmax and two Supramax vessels.
In addition to the MR tanker purchase, G E Shipping has also contracted to buy one secondhand Very Large Gas Carrier (VLGC) and one secondhand Ultramax dry bulk carrier. At the same time, the company plans to sell one Kamsarmax dry bulk carrier, Jag Aarati, and one VLGC, Jag Vishnu. All these purchase and sale transactions are expected to be completed in Q4 FY26.
The latest move reflects G E Shipping’s ongoing strategy of selective fleet expansion and renewal, supported by a strong balance sheet and internal cash generation.