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G E Shipping signs deal to buy Kamsarmax dry bulk carrier
02-Sep-25   15:37 Hrs IST

The 2016 built vessel is expected to join the company's fleet by Q3 FY26.

The company's current owned fleet stands at 38 vessels, comprising 26 tankers (5 crude carriers, 17 product tankers, 4 LPG carriers) and 12 dry bulk carriers aggregating 3.04 million deadweight tonnage. The company's current capacity utilization is close to 100%.

In addition to this contract, the company has 1 secondhand Kamsarmax dry bulk carrier contracted to buy in July'25 and 1 Suezmax crude carrier, which was contracted to buy in Aug'25. Both these ships are also expected to join the fleet by Q3 FY26.

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

Post delivery of these 3 vessels, the company will have 41 vessels aggregating 3.37 million deadweight tonnage.

The Great Eastern Shipping Company is India's largest private sector shipping service provider, with a strong presence in the international maritime industry. The shipping business operates under two main businesses: dry bulk carriers and tankers.

The company's consolidated net profit declined 37.86% to Rs 504.50 crore on a 20.34% fall in revenue to Rs 1201.47 crore in Q1 FY26 as compared with Q1 FY25.

The scrip lost 0.01% to end at Rs 955 on the BSE today.

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