The Great Eastern Shipping Company Limited (G E Shipping) has entered into a contract on December 19, 2025, to acquire a secondhand Very Large Gas Carrier (VLGC) with a cargo capacity of about 84,048 cubic metres, as part of its ongoing fleet expansion strategy. The vessel, built in South Korea in 2015, is expected to be inducted into the company’s fleet in Q4 FY26. The acquisition will be funded entirely through internal accruals, reflecting the company’s strong balance sheet and cash flow position.
While G E Shipping has not disclosed the transaction value, industry estimates suggest that a 2014–2016 vintage VLGC of around 84,000 cbm capacity typically commands a price in the range of $65–75 million, depending on specifications, fuel efficiency and market conditions.
The acquisition is aimed at expanding the company’s gas carrier segment amid strong utilisation levels. G E Shipping’s current owned fleet comprises 40 vessels, including 26 tankers (six crude carriers, 16 product tankers and four LPG carriers) and 14 dry bulk carriers, with an aggregate capacity of 3.32 million deadweight tonnes (dwt). The company’s fleet utilisation is currently close to 100%.
In addition to the VLGC acquisition, the company has also contracted to buy one secondhand Ultramax dry bulk carrier and sell one Kamsarmax dry bulk carrier, “Jag Aarati”, with both transactions expected to be completed in Q4 FY26. Separately, G E Shipping has contracted to sell one Suezmax crude tanker, “Jag Lok”, which is expected to be completed in Q3 FY26.
These transactions underscore G E Shipping’s active portfolio management approach, focused on modernising its fleet and optimising asset mix across shipping segments.