Great Eastern Shipping Acquires Medium Range Tanker
Filing Summary
The Great Eastern Shipping Company Ltd has contracted to acquire a secondhand Medium Range Tanker with a capacity of approximately 51,565 dwt. The vessel, built in 2013 in South Korea, is expected to be integrated into the company’s fleet in the fourth quarter of fiscal year 2026. This acquisition will be financed entirely through internal accruals. The company’s current fleet consists of 39 vessels, and this purchase is part of its fleet expansion strategy. Additional transactions include the purchase and sale of other vessels, also expected to conclude in Q4 FY26.
The Great Eastern Shipping Company Ltd has contracted to acquire a secondhand Medium Range Tanker with a capacity of approximately 51,565 dwt. The transaction was finalized on December 31, 2025. The tanker, built in 2013 in South Korea, is anticipated to join the company’s fleet in the fourth quarter of fiscal year 2026.
This acquisition will be financed entirely from the company’s internal accruals. The purpose of this purchase is to expand the company’s fleet. Currently, the company owns 39 vessels, which include 25 tankers and 14 dry bulk carriers, aggregating 3.17 million dwt. The company’s capacity utilization is close to 100%.
In addition to this acquisition, the company has contracted to purchase a secondhand Very Large Gas Carrier and an Ultramax Dry Bulk Carrier. It has also agreed to sell one Kamsarmax Dry Bulk Carrier, “Jag Aarati,” and one Very Large Gas Carrier, “Jag Vishnu.” These transactions are expected to be completed in the fourth quarter of fiscal year 2026.
The Great Eastern Shipping Company Ltd focuses on shipping and offshore businesses. It operates a diversified fleet of vessels, including tankers and dry bulk carriers, and is engaged in the transportation of crude oil, petroleum products, gas, and dry bulk commodities. The company aims to strategically expand its fleet to enhance its operational capabilities.