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GE Shipping expands fleet with new vessel buyGE Shipping is acquiring a secondhand Kamsarmax dry bulk carrier, expanding its fleet to 41 vessels.By Megha Rani  March 4, 2026, 4:43:59 PM IST (Published)2 Min ReadGreat Eastern Shipping Company Ltd (GE Shipping) has contracted to acquire a secondhand Kamsarmax dry bulk carrier as part of its ongoing fleet expansion strategy.

In an exchange filing on March 4, 2026, the company said it has agreed to purchase a 2014 Japanese-built Kamsarmax vessel with a capacity of approximately 81,094 deadweight tonnes (dwt). The vessel is expected to join the company’s fleet by the first quarter of FY27.

GE Shipping said the purchase aligns with its strategy to expand and modernise its fleet.

Following this acquisition, the company’s owned fleet stands at 41 vessels, comprising 27 tankers, including five crude tankers, 17 product tankers and five LPG carriers, and 14 dry bulk carriers, which include two Capesize, nine Kamsarmax, one Ultramax and two Supramax vessels. The total fleet capacity aggregates to about 3.25 million dwt. The company’s current capacity utilisation is close to 100%.

Separately, GE Shipping has contracted to sell its Very Large Gas Carrier (VLGC) Jag Vishnu. The transaction is expected to be completed in the fourth quarter of FY26.

Q3 Results

GE Shipping reported a strong financial performance for the third quarter of FY26, with net profit rising 36.9% year-on-year to ₹812 crore, compared with ₹593 crore in the corresponding quarter last year.

Revenue for the quarter increased 17.6% year-on-year to ₹1,454 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 36.7% to ₹835.2 crore from ₹611 crore a year ago.

Operating margin expanded sharply to 57.4% from 49.4% in the year-ago period, supported by firm freight rates and operating leverage.

The company’s board also declared a third interim dividend of ₹9 per equity share for FY26.

Shares of Great Eastern Shipping Company Ltd ended higher on Wednesday, March 4, by 2.14% at ₹1354.80 on the NSE.

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