Great Eastern Shipping has contracted to acquire a newbuilding Suezmax tanker of about 157,000 deadweight tonnes (dwt), strengthening its fleet as the Indian shipping company continues to expand its vessel capacity.
The vessel will be constructed in the Far East by one of the world’s leading shipbuilders and is scheduled for delivery in the second half of financial year 2028-29. The acquisition agreement was entered into on September 28, 2026.
Great Eastern said the new tanker will be financed through internal accruals, with the acquisition aimed at expanding its fleet. The company has not disclosed the purchase price or the identity of the shipbuilder.
The addition comes as Great Eastern operates a fleet of 40 vessels with aggregate capacity of about 3.24 million dwt. Its fleet comprises 25 tankers and 15 dry bulk carriers. The tanker fleet includes five crude tankers, 16 product tankers and four LPG carriers, while the dry bulk fleet consists of two Capesize, 10 Kamsarmax, one Ultramax and two Supramax vessels.
The company’s current fleet capacity utilisation is close to 100%, according to its latest disclosure. Great Eastern has also contracted to acquire two secondhand Kamsarmax dry bulk carriers, with those transactions expected to be completed in the third quarter of FY27.
The new Suezmax order adds a newbuild vessel to Great Eastern’s recent fleet expansion activity, which has also included purchases of secondhand tonnage. The company has simultaneously been renewing its fleet through vessel disposals and acquisitions.
For the tanker segment, the new Suezmax will add modern crude-carrying capacity when it enters service. Its eventual contribution to the company will depend on deployment, tanker freight rates and market conditions at the time of delivery.
The acquisition reflects Great Eastern’s continued focus on expanding its owned fleet while using internal resources to fund vessel investments.