$GESHIP

GE SHIPPING : TO ACQUIRE SECONDHAND LR2 TANKER FOR FLEET EXPANSION 🚢📈 • 🚢 The Great Eastern Shipping Company (GE Shipping) has contracted to acquire a secondhand Long Range 2 (LR2) Tanker of about 110,000 DWT. • 📅 The vessel, built in 2015, is expected to join the company’s fleet in Q2 FY27. • 💰 The acquisition will be fully financed through internal accruals, with the objective of fleet expansion. • ⚓️ GE Shipping currently owns a fleet of 39 vessels comprising 24 tankers and 15 dry bulk carriers, aggregating 3.19 million DWT. • 📊 The company’s capacity utilization is close to 100%, indicating strong fleet deployment. • ➕ The company has also contracted to buy one secondhand Medium Range Product Tanker, expected to be completed in Q1 FY27. 🟢 Impact: Positive (The acquisition strengthens GE Shipping’s fleet, supports growth amid high utilization levels and enhances earnings potential in the tanker segment.)