Great Eastern Shipping Company (G E Shipping) has contracted to buy a kamsarmax dry bulk carrier of about 80,919 dwt on October 27, 2023. The 2014 built vessel is expected to join the Company’s fleet in Q3 FY24.
The Company’s current fleet stands at 42 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and 13 dry bulk carriers aggregating 3.33 Mn dwt. The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is modernization and expansion of the fleet. Post delivery of the vessel, the company will have 43 vessels aggregating 3.41 Mn dwt.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.