Great Eastern Shipping Company shares jumped 2.40% to close at ₹1,417.60 following the announcement of a significant fleet expansion deal. According to reports from Business Standard, the company has contracted to acquire a secondhand Long Range 2 Tanker with approximately 110,000 deadweight tonnage (dwt). The proposed vessel, built in 2015, will be financed entirely from internal accruals and is expected to join the company's fleet in Q2 FY27.
As reported by Business Standard, the company's current owned fleet comprises 39 vessels with a total capacity of 3.19 million dwt. The fleet structure includes 24 tankers (5 crude tankers, 15 product tankers, 4 LPG carriers) and 15 dry bulk carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax). The company's current capacity utilization stands at close to 100%, indicating strong operational efficiency across its diversified shipping portfolio.
According to Business Standard, the company has also contracted to purchase one secondhand medium range product tanker, with the transaction expected to be completed in Q1 FY27. This additional acquisition demonstrates the company's continued focus on fleet expansion and operational growth in the shipping sector, further strengthening its market position in the Indian shipping and oil drilling services industry.
As reported by Business Standard, GE Shipping along with its subsidiaries operates as a major player in the Indian shipping and oil drilling services industry. The company's consolidated net profit surged 187.56% to ₹1,044.09 crore in Q4 FY26 from ₹363.09 crore in Q4 FY25. Revenue from operations climbed 23.58% YoY to ₹1,511.40 crore in Q4 FY26, reflecting strong operational performance across the company's diversified shipping portfolio and supporting its continued fleet expansion strategy.
