GE SHIPPING TO BUY 82,000-CBM GAS CARRIER

has contracted to acquire a secondhand very large gas carrier (VLGC) with a capacity of about 82,000 cubic metres, as it expands its fleet to meet demand for shipping services. The vessel, built in 2015, is expected to join the company’s fleet in the third quarter of FY27. The acquisition will be funded entirely through internal accruals. GE Shipping’s owned fleet currently comprises 40 vessels — 25 tankers and 15 dry bulk carriers — with a combined capacity of 3.24 million deadweight tonnes (dwt). With the induction of this new vessel, the company's revenue is expected to increase in the coming years. Moreover, higher freight costs have added to the company's profit margins in the last few quarters.