Great Eastern Shipping Acquires Ultramax Dry Bulk Carrier
Filing Summary
The Great Eastern Shipping Company Limited has taken delivery of a 2019 Japanese-built Ultramax Dry Bulk Carrier named “Jag Riddhi” on January 28, 2026. The vessel, with a capacity of approximately 63,480 dwt, was purchased in Q3 FY26 and financed entirely through internal accruals. This acquisition increases the company’s owned fleet to 40 vessels, including 26 tankers and 14 dry bulk carriers. Additionally, the company plans to purchase a secondhand Medium Range Tanker and sell a Very Large Gas Carrier by Q4 FY26.
The Great Eastern Shipping Company Limited has taken delivery of a 2019 Japanese-built Ultramax Dry Bulk Carrier named “Jag Riddhi” on January 28, 2026. The vessel has a capacity of approximately 63,480 dwt. The company had contracted to purchase this vessel in Q3 FY26, and the acquisition was financed entirely from internal accruals.
Following this transaction, GE Shipping‘s owned fleet now comprises 40 vessels. This includes 26 tankers, which are categorized into 5 crude tankers, 16 product tankers, and 5 LPG carriers. The fleet also includes 14 dry bulk carriers, consisting of 2 capesize, 9 kamsarmax, 1 ultramax, and 2 supramax vessels, aggregating a total of 3.20 million dwt. The company’s current capacity utilization is close to 100%.
Additionally, the company has contracted to purchase one secondhand Medium Range Tanker and intends to sell one Very Large Gas Carrier named “Jag Vishnu.” These transactions are scheduled for completion in Q4 FY26.
Great Eastern Shipping Company Limited is a prominent player in the shipping industry, focusing on the transportation of crude oil, petroleum products, gas, and dry bulk commodities. The company continuously seeks to optimize its fleet composition to enhance operational efficiency and meet market demands.