The Great Eastern Shipping Company Limited (GE Shipping) has entered into a contract for acquisition of a new-building Suezmax Tanker of about 157,000 dwt on 28th September 2026, to be constructed in the Far East by one of the world’s leading shipbuilders.

The vessel is scheduled for delivery in the second half of FY 2028-29.

Currently, the vessel is proposed to be financed from internal accruals. The purpose of the acquisition is expansion of the fleet.

The company’s current owned fleet stands at 40 vessels, comprising 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.24 mn dwt. The Company’s current capacity utilization is close to 100%.

Additionally, the company has contracted to buy two secondhand Kamsarmax Dry Bulk Carriers, and these transactions are expected to be completed in Q3 FY27.

Great Eastern Shipping Co Ltd. (GE Shipping) press release