Home / Business and Economy / GE Shipping Buys New Kamsarmax, Fleet Hits 41 Vessels
GE Shipping Buys New Kamsarmax, Fleet Hits 41 Vessels
4 Mar
Summary
- GE Shipping acquired a 2014 Japanese-built Kamsarmax vessel.
- The acquisition brings the company's total fleet to 41 vessels.
- GE Shipping reported a 36.9% year-on-year net profit increase.
Great Eastern Shipping Company Ltd (GE Shipping) has strategically acquired a secondhand Kamsarmax dry bulk carrier, expected to join its fleet by the first quarter of Fiscal Year 2027. This Japanese-built vessel, commissioned in 2014, adds to GE Shipping's ongoing fleet modernization and expansion efforts.
The company's owned fleet now comprises 41 vessels, including 27 tankers and 14 dry bulk carriers, with a combined capacity of approximately 3.25 million deadweight tonnes. GE Shipping also announced the sale of its Very Large Gas Carrier, Jag Vishnu, scheduled for completion in the fourth quarter of FY26.
Financially, GE Shipping demonstrated robust growth in the third quarter of FY26. Net profit surged by 36.9% year-on-year to ₹812 crore, supported by a 17.6% increase in revenue to ₹1,454 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) saw a significant rise of 36.7%.
Further demonstrating financial strength, the board declared a third interim dividend of ₹9 per equity share for FY26. The company's stock closed higher on March 4, 2026, reflecting positive market sentiment.
