GE Shipping Buys New Vessel; Shares Rally 5%
Shares of Great Eastern Shipping Company Ltd (GE Shipping) rallied 5% to hit the day’s high of Rs 1,437.90 on 5th March after the company announced it had contracted to acquire a second-hand Kamsarmax dry bulk carrier as part of its ongoing fleet expansion strategy. In an exchange filing dated... The post GE Shipping Buys New Vessel; Shares Rally 5% appeared first on Equitypandit.
Shares of Great Eastern Shipping Company Ltd (GE Shipping) rallied 5% to hit the day’s high of Rs 1,437.90 on 5th March after the company announced it had contracted to acquire a second-hand Kamsarmax dry bulk carrier as part of its ongoing fleet expansion strategy.
In an exchange filing dated 4th March, 2026, GE Shipping said it has agreed to acquire a 2014 Japanese-built Kamsarmax dry bulk carrier with a capacity of around 81,094 deadweight tonnes (dwt). The vessel is expected to join the fleet by the first quarter of FY27.
The company said the acquisition is part of its plan to expand and modernise its fleet.
After this addition, GE Shipping’s owned fleet will stand at 41 vessels. This includes 27 tankers — five crude tankers, 17 product tankers and five LPG carriers — along with 14 dry bulk carriers comprising two Capesize, nine Kamsarmax, one Ultramax and two Supramax vessels. The total fleet capacity is about 3.25 million dwt, with current utilisation close to 100%.
Separately, the company has agreed to sell its Very Large Gas Carrier (VLGC), Jag Vishnu. The sale is expected to be completed in the fourth quarter of FY26.
GE Shipping Q3 Results
For the third quarter of FY26, the company reported a 36.9% year-over-year increase in net profit to Rs 812 crore, up from Rs 593 crore in the same period last year.
Revenue increased 17.6% year-over-year to Rs 1,454 crore. EBITDA rose 36.7% to Rs 835.2 crore from Rs 611 crore a year ago.
Operating margin improved to 57.4% from 49.4%, supported by strong freight rates and operating leverage.
The board also declared a third interim dividend of Rs 9 per equity share for FY26.
At 10:51 AM, shares of GE Shipping were trading 3.51% higher at Rs 1,402.10 on the NSE.
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The post GE Shipping Buys New Vessel; Shares Rally 5% appeared first on Equitypandit.
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