Splash247: Great Eastern picks up secondhand kamsarmax

Indian owner Great Eastern Shipping is pressing ahead with its fleet renewal initiative, having contracted to buy a 2015-built kamsarmax bulk carrier.

The unnamed 81,843 dwt vessel is expected to change hands by October, the Mumbai-listed diversified owner said in a stock exchange filing.

While the company has not provided any further details, brokers have linked the deal to Kambara Kisen-owned Ultra Lion, built by Tsuneishi Zhoushan. VesselsValue estimates the ship’s worth at around $22m, but brokers suggest the ship has fetched close to $25m.

The addition will become Great Eastern’s 13th bulk carrier, taking its total fleet to 39 vessels with a combined capacity of approximately 3.13m dwt. The current fleet consists of 26 tankers—including crude, product, and LPG—and 12 dry bulk units, with overall utilisation reported close to 100%.

Earlier this year, Great Eastern sold two older ships: the 2005-built MR tanker Jag Pooja and the 2011-built supramax bulker Jag Rishi, raising around $24m in total.

The company said the latest acquisition aligns with its long-term plan to modernise its fleet.