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The Great Eastern Shipping Company Limited (G E Shipping) has entered into an agreement to purchase a secondhand Medium Range Tanker. The vessel, built in 2013 in South Korea, has a deadweight tonnage (dwt) of approximately 51,565. The acquisition is expected to be completed and the vessel to join the company's fleet in the fourth quarter of the financial year 2026 (Q4 FY26).

The financing for this acquisition will be entirely covered by the company's internal accruals, reflecting a strategic move towards fleet expansion. This purchase comes as the company's current fleet utilization is close to 100%.

G E Shipping's current owned fleet consists of 39 vessels, which includes 25 Tankers (comprising 5 Crude Tankers, 16 Product Tankers, and 4 LPG Carriers) and 14 Dry Bulk Carriers (comprising 2 Capesize, 10 Kamsarmax, and 2 Supramax vessels), with an aggregate capacity of 3.17 million dwt.

In addition to this acquisition, the company has also contracted to buy one secondhand Very Large Gas Carrier and one secondhand Ultramax Dry Bulk Carrier. Concurrently, G E Shipping plans to sell one Kamsarmax Dry Bulk Carrier named "Jag Aarati" and one Very Large Gas Carrier named "Jag Vishnu". These additional purchase and sale transactions are also anticipated to be completed within Q4 FY26.