07 Aug 2026
The Great Eastern Shipping Company contracted to buy a secondhand Kamsarmax dry bulk carrier of about 81,886 dwt built in 2015, financed entirely from internal accruals, with the vessel expected to join the fleet in Q3 FY27.
The owned fleet stands at 40 vessels aggregating 3.24 million dwt, split between 25 tankers and 15 dry bulk carriers, of which 10 are already Kamsarmax. So this deepens an existing class rather than opening a new one, which keeps crewing, spares and commercial management unchanged. The company states current capacity utilisation is close to 100 percent, which is the reason to add tonnage at all: there is no idle capacity left to absorb incremental demand. Paying from internal accruals rather than debt is the detail that matters most on a shipping balance sheet, where the standard cycle failure is fleet expansion funded with leverage near the top of the freight market. A 2015-built secondhand vessel also costs materially less than a newbuild and arrives in months rather than the two to three years a yard slot would take, so the capacity earns freight in the current market rather than the next one.