Great Eastern Shipping is expanding its dry bulk fleet once again, agreeing to acquire a fourth kamsarmax bulk carrier in just over a year, according to Splash247. The Mumbai-listed owner has returned to the secondhand market to buy an unnamed 2015-built vessel of 81,886 dwt, with delivery scheduled between October and December. The purchase will be financed entirely from internal cash, and the seller and price have not been disclosed, Splash247 reported.
Secondhand buying spree continues
Splash247 reported that the latest addition follows the purchase of the 2014-built 81,094 dwt Japanese kamsarmax Jag Abhishek earlier this year. The company also added the 2015-built Jag Amol and the 2016-built Jag Anjali during the second half of 2025. Brokers placed the price of Jag Amol at close to $25m, according to Splash247.
| Vessel | Year built | Dwt | Status |
|---|---|---|---|
| Unnamed | 2015 | 81,886 | Agreed, delivery Oct–Dec |
| Jag Abhishek | 2014 | 81,094 | Purchased earlier this year |
| Jag Amol | 2015 | Not stated | Added H2 2025, price close to $25m |
| Jag Anjali | 2016 | Not stated | Added H2 2025 |
Selling older tonnage
While buying younger bulkers, Great Eastern has simultaneously removed older tonnage. The company sold the 2011-built panamax bulker Jag Aarati to Norway's Atlantica Shipping late last year for a reported $14m to $15m, Splash247 reported. This was followed by ship sales in the VLGC and tanker segments, which were replaced by younger tonnage.
Fleet at a glance
The owner currently controls 40 ships totalling 3.24m dwt, comprising 25 tankers and 15 bulkers, according to Splash247. The dry bulk fleet includes two capesizes, 10 kamsarmaxes, one ultramax and two supramaxes.
The owner currently controls 40 ships totalling 3.24m dwt, comprising 25 tankers and 15 bulkers.
What it means for charterers
For charterers, brokers and shipping operators, the transaction flow at Great Eastern shows a mid-sized Indian owner rotating out of older panamax and gas carrier tonnage and into younger kamsarmax bulkers, all in the secondhand market. The unnamed 2015-built vessel will join a dry bulk fleet that already counts 10 kamsarmaxes, according to Splash247. The deal is being funded entirely from internal cash, and the seller and purchase price remain undisclosed, meaning the market will track the transfer through public shipping registries and subsequent broker reports.
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