Great Eastern Shipping shuffles fleet with kamsarmax purchase

The Great Eastern Shipping Company Limited (GE Shipping) has contracted to buy a secondhand kamsarmax dry bulk carrier on March 4.

The 2014-Japanese built vessel of about 81,094-dwt is expected to join the company’s fleet in the first quarter of FY27.

“The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet,” the company said in a stock exchange filling on March 4.

The company’s current owned fleet stands at 41 vessels, comprising 27 tankers (5 crude tankers, 17 product tankers, 5 LPG carriers) and 14 dry bulk carriers (2 capesize, 9 kamsarmax, 1 ultramax, 2 supramax) aggregating 3.25 mn dwt.

The company’s current capacity utilization is close to 100%.