GE Shipping ends higher after sigining deal to acquire secondhand tanker

Great Eastern Shipping Company jumped 2.40% to end at Rs 1,417.60 after the company contracted to buy a secondhand Long Range 2 Tanker of about 110,000 deadweight tonnage (dwt), further strengthening its fleet.

The proposed vessel will be financed entirely from internal accruals. The 2015 built vessel is expected to join the company?s fleet in Q2 FY27.

The company?s current owned fleet stands at 39 vessels, comprising 24 Tankers (5 Crude Tankers, 15 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.19 mn dwt. The company?s current capacity utilization is close to 100%.

Additionally, the company has contracted to buy one secondhand medium range product tanker, and this purchase transaction is expected to be completed in Q1 FY27.

Great Eastern Shipping Company (GE Shipping), along with its subsidiaries is a major player in the Indian shipping and oil drilling services industry. The company?s consolidated net profit surged 187.56% to Rs 1,044.09 crore in Q4 FY26 from Rs 363.09 crore in Q4 FY25. Revenue from operations climbed 23.58% YoY to Rs 1,511.40 crore in Q4 FY26.

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