The Great Eastern Shipping Company Limited's Board of Directors has recommended the re-appointment of Mrs. Bhavna Doshi as an Independent Director for a second term, following their board meeting held on March 16, 2026.

Board Meeting Details

The board meeting commenced at 01:00 p.m. and concluded at 04:10 p.m. on March 16, 2026. The primary agenda item was the recommendation for Mrs. Doshi's continued service as an Independent Director.

Director Profile and Qualifications

Mrs. Bhavna Doshi brings extensive professional experience to the board. She is a founding partner of Bhavna Doshi Associates LLP, a boutique advisory firm, and serves as former Senior Advisor to KPMG India. Her professional background includes:

• Over 30 years of experience in taxation and corporate restructuring
• Expertise in accounting, assurance, and consulting services
• Advisory services to diversified business groups, both national and multinational
• Chartered Accountant qualification
• Master's degree in Commerce from University of Mumbai

Independence and Governance

The company has disclosed that Mrs. Doshi maintains independence from the board, with no relationships to any existing directors of the company. This ensures compliance with corporate governance standards for independent directors.

Regulatory Compliance

The re-appointment recommendation follows the requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The proposal will require shareholder approval for final implementation.

Great Eastern Shipping Company Limited has announced the acquisition of a secondhand Kamsarmax Dry Bulk Carrier, marking another strategic expansion of its maritime fleet. The company contracted to purchase the vessel on March 4, 2026, as part of its ongoing fleet enhancement strategy.

Vessel Acquisition Details

The newly acquired vessel represents a significant addition to the company's dry bulk operations. Key specifications and timeline details are outlined below:

Current Fleet Composition

The Great Eastern Shipping Company maintains a diverse and substantial maritime fleet with near-maximum utilization. The company's current owned fleet stands at 41 vessels, aggregating 3.25 mn dwt with capacity utilization close to 100%.

Fleet Breakdown by Category

Strategic Fleet Optimization

Alongside the acquisition, the company has also contracted to sell one Very Large Gas Carrier named "Jag Vishnu." This sale transaction is expected to be completed in Q4 FY26, demonstrating the company's strategic approach to fleet optimization and capital allocation.

Financial and Operational Impact

The acquisition will be financed entirely from internal accruals, reflecting the company's strong financial position and cash generation capabilities. The purpose of the acquisition is expansion of the fleet, which aligns with the company's growth strategy in the dry bulk segment. With current capacity utilization close to 100%, the addition of this vessel will provide additional operational capacity to meet market demand.