Great Eastern Shipping expands fleet with acquisition of Kamsarmax Dry Bulk carrier
India’s largest private sector shipping company, Great Eastern Shipping Company (GESCO), has announced a major step in its fleet expansion strategy with the acquisition of a Kamsarmax dry bulk carrier of approximately 81,922 DWT. Built in 2016, the vessel is expected to join the company’s fleet by the third quarter of the 2026 financial year.
Fleet expansion with internal funding
The acquisition will be financed entirely through internal accruals, underlining GESCO’s strong financial position and disciplined growth approach. With this addition, the company reinforces its commitment to enhancing capacity and operational efficiency.
Current fleet strength
At present, Great Eastern Shipping operates a fleet of 38 vessels, totaling 3.04 million DWT. This includes:
26 tankers (five crude carriers, 17 product tankers, and four LPG carriers)
12 dry bulk carriers
The company has maintained nearly 100% capacity utilization, reflecting its robust demand base and efficient fleet deployment.
Multiple acquisitions in FY 2026
This latest acquisition follows GESCO’s earlier agreements to purchase two secondhand vessels:
A Kamsarmax dry bulk carrier contracted in July 2025
A Suezmax crude carrier contracted in August 2025
Both vessels are expected to join the fleet by the third quarter of FY 2026, alongside the newly acquired Kamsarmax carrier.
Strengthening market presence
With the delivery of these three ships, Great Eastern Shipping’s fleet will expand to 41 vessels, boosting total carrying capacity to 3.37 million DWT. This strategic growth comes at a time of rising demand in global shipping markets, enabling the company to strengthen its position in both the dry bulk and tanker segments.
Looking ahead
The acquisition marks another milestone in Great Eastern Shipping’s growth journey, reinforcing its focus on operational efficiency, sustainable growth, and market leadership. As global trade continues to expand, GESCO’s well-timed fleet expansion is set to drive long-term value for its stakeholders.
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