Great Eastern buys 82,000-cbm LPG carrier in latest secondhand spree
Indian owner expands diversified fleet with 2015-built very large gas carrier, set for December delivery.
India’s Great Eastern Shipping has expanded its fleet with the acquisition of a secondhand very large gas carrier (VLGC), reinforcing its strategy of diversifying its maritime assets. The Mumbai-based company announced the purchase of the vessel, which was built in 2015 and has a capacity of approximately 82,000 cubic metres. The ship is expected to join the fleet during the December quarter.
While the company confirmed the deal, it did not reveal the vessel’s name, the seller, or the purchase price. The acquisition will be financed entirely through internal resources, avoiding external funding.
Active secondhand market drives fleet renewal: great eastern shipping
The latest purchase is part of Great Eastern’s broader effort to renew its fleet through strategic secondhand acquisitions. By September this year, the company had already spent over $200 million on secondhand vessels, while also disposing of older tonnage to optimise its operations.
Safe Bulkers
The company’s current fleet consists of 40 owned vessels, totalling 3.24 million deadweight tonnes (DWT). The fleet is divided into two main segments: 25 tankers and gas carriers and 15 bulk carriers. The tanker segment includes five crude carriers, 16 product tankers, and four LPG carriers. Meanwhile, the dry bulk fleet comprises two capesize vessels, 10 kamsarmaxes, one ultramax, and two supramaxes.
The VLGC acquisition follows two other recent agreements to purchase secondhand kamsarmax bulk carriers, both of which are also expected to be finalised in the December quarter. These transactions highlight Great Eastern’s focus on balancing its fleet while taking advantage of opportunities in the secondhand market.
Long-term fleet planning includes newbuild commitment
In addition to its secondhand purchases, Great Eastern has a long-term commitment to expand its fleet with a newbuilding suezmax tanker. The vessel is scheduled for delivery in the second half of the company’s 2028–29 financial year. The company clarified that this order was an existing commitment rather than a new announcement, reflecting its forward-looking approach to fleet development.
With the VLGC and two kamsarmax bulkers set to join its fleet in the coming months, Great Eastern is poised for a busy quarter as it continues to strengthen its position in the maritime industry.
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