GE Shipping continues secondhand shopping spree with VLGC deal

The India-based Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a secondhand very large gas carrier (VLGC) of about 82,000 cbm on October 23.

The 2015-built VLGC is expected to join the company’s fleet in Q3 FY2027. The vessel acquisition will be financed entirely from internal accruals, according to the company’s announcement.

The proposed vessel is part of the company’s fleet expansion, with the current owned fleet being totally 40 vessels, comprising of 25 tankers (5 crude tankers, 16 product tankers, 4 LPG carriers) and 15 dry bulk carriers (2 capesize, 10 kamsarmax, 1 ultramax, 2 supramax) aggregating 3.24 million dwt. The company’s current capacity utilization is close to 100%.

In addition, the company has contracted to purchase two secondhand kamsarmax dry bulk carriers. These transactions are expected to be completed in Q3 FY2027.

This story was originally published by Shipping Telegraph. Read the full story at Shipping Telegraph →