GE Shipping buys secondhand kamsarmax as fleet expansion push rolls on

The Great Eastern Shipping Company Limited (GE Shipping) had agreed to buy a secondhand kamsarmax dry bulk carrier from an undisclosed buyer.

GE Shipping said it had agreed to buy a kamsarmax dry bulk carrier of about 81,886 dwt on August 7, as part of its fleet expansion strategy.

The 2015-built vessel is expected to join the company’s fleet in the third quarter of financial year 2027.

The proposed vessel, according to the shipowner, will be financed entirely from internal accruals.

The company’s current owned fleet stands at 40 vessels, comprising of 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 mn dwt.