GE Shipping contracts to buy a secondhand Medium Range Tanker

The Great Eastern Shipping Company Limited (GE Shipping) has contracted to buy a secondhand Medium Range Tanker of about 49,420 dwt on April 1, 2026. The 2014 built vessel is expected to join the Company's fleet in Q1 FY27.

The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet.

The company's current owned fleet stands at 40 vessels, comprising 26 Tankers (5 Crude Tankers, 17 Product Tankers, 4 LPG Carriers) and 14 Dry Bulk Carriers (2 Capesize, 9 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.20 mn dwt. The Company's current capacity utilization is close to 100%.

Additionally, the company has contracted to buy one secondhand Kamsarmax Dry Bulk Carrier, and this purchase transaction is expected to be completed in Q1 FY27.

Shares of The Great Eastern Shipping Company Limited was last trading in BSE at Rs. 1460.30 as compared to the previous close of Rs. 1413.60. The total number of shares traded during the day was 33771 in over 2586 trades.

The stock hit an intraday high of Rs. 1490.65 and intraday low of 1435.40. The net turnover during the day was Rs. 49570702.00.

Source : Equity Bulls

Keywords

TheGreatEasternShippingCompany INE017A01032 GEShipping MediumRangeTanker