GE Shipping acquires LR2 tanker to expand fleet capacity
The 2015-built vessel will join the fleet in Q2 FY27, funded through internal accruals, as GE Shipping maintains near-100% fleet utilisation.
The Great Eastern Shipping Company (GE Shipping) has contracted to buy a secondhand Long Range 2 (LR2) tanker of about 110,000 dwt as part of its fleet expansion plans. The 2015-built vessel is expected to join the company’s fleet in the second quarter of FY27.
The vessel acquisition will be financed entirely through internal accruals, according to the company.
GE Shipping currently owns a fleet of 39 vessels, comprising 24 tankers and 15 dry bulk carriers, with a combined capacity of 3.19 million dwt. The tanker fleet includes five crude tankers, 15 product tankers and four LPG carriers, while the dry bulk fleet consists of two Capesize, 10 Kamsarmax, one Ultramax and two Supramax vessels.
The company said its current fleet utilisation is close to 100%.
In addition, GE Shipping has contracted to buy one secondhand Medium Range product tanker. The transaction is expected to be completed in the first quarter of FY27.
This version follows a straight news format with the main announcement in the lead paragraph and uses only information provided in the release.