Full Steam Ahead: G E Shipping Expands Fleet Capacity with Japanese Ultramax

India’s largest private shipping company, The Great Eastern Shipping Company Limited (G E Shipping), has signed a contract to acquire a modern Ultramax dry bulk carrier of approximately 63,500 deadweight tonnage (dwt). The vessel, built in Japan in 2019, is expected to be delivered and operational within the company’s fleet by Q4 FY26.  

The transaction, financed entirely through internal accruals, aligns with G E Shipping’s commitment to strengthening its dry bulk segment and maintaining an optimal asset portfolio. The addition comes as the company continues to streamline its fleet operations with recent strategic sales.  

Notable Updates:

• The newly contracted Ultramax vessel (63,500 dwt) is a 2019-built Japanese ship.  
• Expected integration into the fleet by the fourth quarter of FY26.  
• Acquisition fully funded by internal accruals, reflecting strong balance sheet management.  
• Current fleet: 41 vessels (27 tankers, 14 dry bulk carriers) aggregating 3.37 million dwt.  
• Company nearing 100% capacity utilization.  
• G E Shipping also plans to sell one Suezmax crude tanker and one Medium Range product tanker in Q3 FY26.  

Sources: BSE filing, The Great Eastern Shipping Company Limited.