GE Shipping rallies after inking deal to acquire Japanese-built dry bulk carrier

Great Eastern Shipping Company jumped 4.47% to Rs 1415.30 after the company contracted to buy a secondhand Kamsarmax dry bulk carrier of about 81,094 deadweight tonnage (dwt) to expand its fleet.

The 2014 Japanese built vessel is expected to join the companys fleet by Q1 FY27. The proposed vessel will be financed entirely from internal accruals.

Following the addition, the companys 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 companys current capacity utilization is close to 100%.

 

Additionally, the company has contracted to sell one Very Large Gas Carrier Jag Vishnu, and this sale transaction is expected to be completed in Q4 FY26.

Great Eastern Shipping Company (GE Shipping), along with its subsidiaries is a major player in the Indian shipping and oil drilling services industry. The companys consolidated net profit jumped 36.9% to Rs 812.52 crore on 17.6% increase in net sales to Rs 1454.44 crore in Q3 FY26 oer Q3 FY25.

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