GE Shipping contracts to buy secondhand LR2 tanker of 110,000 dwt
Great Eastern Shipping Company Limited contracted to buy a secondhand Long Range 2 Tanker of about 110,000 dwt on June 16, 2026. The 2015-built vessel, financed through internal accruals, is expected to join the fleet in Q2 FY27. The company currently owns 39 vessels aggregating 3.19 mn dwt and has also contracted to buy a secondhand Medium Range Product Tanker in Q1 FY27.
*this image is generated using AI for illustrative purposes only.
Great Eastern Shipping Company Limited has contracted to buy a secondhand Long Range 2 (LR2) Tanker of about 110,000 dwt to expand its fleet. The acquisition, finalized on June 16, 2026, involves a 2015-built vessel expected to join the company's fleet in Q2 FY27. The vessel will be financed entirely from internal accruals.
The company's current owned fleet comprises 39 vessels aggregating 3.19 mn dwt, with capacity utilization close to 100%. The fleet includes 24 Tankers and 15 Dry Bulk Carriers. Additionally, the company has contracted to buy one secondhand Medium Range Product Tanker, with the transaction expected to be completed in Q1 FY27.
Fleet Composition
The company's current operational assets are distributed across the following categories:
| Category: | Vessel Type: | Count: |
|---|---|---|
| Tankers | Crude Tankers | 5 |
| Tankers | Product Tankers | 15 |
| Tankers | LPG Carriers | 4 |
| Dry Bulk Carriers | Capesize | 2 |
| Dry Bulk Carriers | Kamsarmax | 10 |
| Dry Bulk Carriers | Ultramax | 1 |
| Dry Bulk Carriers | Supramax | 2 |
Historical Stock Returns for Great Eastern Shipping Company
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.81% | +3.47% | -15.25% | +29.31% | +49.36% | +256.04% |
How will the addition of the LR2 tanker impact Great Eastern Shipping's revenue mix between its tanker and dry bulk segments?
What are the expected charter rates for LR2 tankers in Q2 FY27, and how might they influence the company's profitability?
Will Great Eastern Shipping continue to expand its fleet through secondhand acquisitions, or does it plan to invest in newbuildings?
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