Great Eastern Shipping expands tanker fleet with Suezmax newbuilding deal

The Great Eastern Shipping Company Limited (GE Shipping) has entered into a contract to acquire a newbuilding Suezmax tanker, expanding its investment programme in the crude oil transportation segment.

The vessel will have a deadweight capacity of approximately 157,000 tonnes and will be constructed at a shipyard in the Far East.

According to the company’s announcement dated 28 September 2026, delivery is scheduled for the second half of the Indian financial year 2028–29.

GE Shipping has not disclosed the identity of the shipbuilder or the acquisition price.

Acquisition supports fleet expansion

The company stated that the newbuilding acquisition is intended to expand its existing fleet.

GE Shipping currently plans to finance the vessel through internally generated funds, although the final financing arrangements have not been specified.

The newbuilding will add to the company’s crude tanker capacity when delivered.

Existing fleet comprises tankers and bulk carriers

At the time of the announcement, GE Shipping’s owned fleet consisted of 40 vessels with a combined capacity of approximately 3.24 million dwt.

The fleet included 25 tankers, comprising five crude oil tankers, 16 product tankers and four LPG carriers.

Its dry bulk fleet consisted of 15 vessels, including two Capesize, ten Kamsarmax, one Ultramax and two Supramax bulk carriers.

The company reported fleet capacity utilisation of nearly 100%.

In addition to the Suezmax newbuilding, GE Shipping had contracted to acquire two secondhand Kamsarmax bulk carriers, with those transactions expected to be completed during the third quarter of the Indian financial year 2026–27.

These acquisitions form part of the company’s broader fleet expansion activities across the tanker and dry bulk shipping sectors.