GE Shipping buys secondhand Kamsarmax as fleet expansion push rolls on

The Great Eastern Shipping Company Limited (GE Shipping) has agreed to buy a secondhand Kamsarmax dry bulk carrier from an undisclosed seller, as part of its ongoing fleet expansion strategy.

GE Shipping said it had agreed to buy the Kamsarmax dry bulk carrier of about 81,886 dwt on August 7. The 2015-built vessel is expected to join the company’s fleet in the third quarter of financial year 2027, with the acquisition to be financed entirely from internal accruals.

The company’s current owned fleet stands at 40 vessels, comprising 25 tankers (5 crude tankers, 16 product tankers, 4 LPG carriers) and 15 dry bulk carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax), aggregating 3.24 million dwt. GE Shipping’s current capacity utilisation stands close to 100%.