GE Shipping to buy second-hand Kamsarmax dry bulk carrier to expand fleet
This story was originally published at 16:51 IST on 4 March 2026
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MUMBAI – The Great Eastern Shipping Co. Ltd. Wednesday signed a contract to buy a second-hand Kamsarmax dry bulk carrier of around 81,094 deadweight tonnage. The purchase will expand the existing fleet size of the company, which currently has nine Kamsarmax dry bulk carriers, among other vessels. The company will receive the Japanese-built vessel in the June quarter of financial year 2026-27 (Apr-Mar), the company said in an exchange filing.
The purchase will be financed entirely through internal accruals, the company said. The company currently has 41 vessels – 27 tankers and 14 dry bulk carriers. The company's current capacity utilisation is nearly 100%. The company will also sell a very large gas carrier called 'Jag Vishnu' during the March quarter.
On Wednesday, shares of GE Shipping closed at INR 1,354.60 apiece on the National Stock Exchange, up more than 2%. For the December quarter, the company reported a consolidated net profit of INR 8.13 billion on revenues of INR 14.54 billion. End
Reported by Shruti Nair
Edited by Avishek Dutta
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