Great Eastern Shipping Acquires Fourth Kamsarmax Bulk Carrier in Just Over a Year
Key Takeaways
- •Great Eastern Shipping has agreed to purchase an unnamed 2015-built kamsarmax bulk carrier of 81,886 dwt, representing its fourth acquisition in this vessel segment within just over a year.
- •The acquisition will be financed entirely from internal cash resources, with delivery scheduled between October and December, while the seller and purchase price remain undisclosed.
- •The company is simultaneously divesting older tonnage, having sold a 2011-built panamax bulker and additional VLGC and tanker vessels, with proceeds effectively reinvested into younger ships.
- •Great Eastern currently controls a fleet of 40 ships totaling 3.24 million dwt, comprising 25 tankers and 15 bulk carriers including 10 kamsarmax vessels.
- •The company's fleet supports India's seaborne trade, including substantial dry bulk imports such as coal for power generation and steelmaking, reflecting the country's position as one of the world's fastest-growing major economies.
Great Eastern Shipping, India's largest private-sector shipping company, has returned to the secondhand market to acquire another kamsarmax bulk carrier, marking the fourth vessel the Mumbai-listed owner has purchased in this segment in just over a year.
The company has agreed to buy an unnamed 2015-built vessel of 81,886 dwt, with delivery scheduled between October and December. The acquisition will be financed entirely from internal cash resources. Great Eastern has not disclosed the seller or the purchase price.
Kamsarmax vessels, a size class of large panamax bulk carriers typically ranging from approximately 80,000 to 85,000 dwt and named after the Port of Kamsar in Guinea, are among the most widely traded bulk carrier types in the global dry cargo market. The class is closely associated with bauxite exports from Guinea, one of the world's largest producers of the aluminium ore, as well as with coal, grain, and iron ore trades. Secondhand acquisitions allow owners to deploy tonnage immediately, compared with newbuilding orders that typically involve delivery timelines of two to three years at Asian shipyards.
This latest addition follows Great Eastern's purchase of the 2014-built, 81,094 dwt Japanese-built kamsarmax Jag Abhishek earlier this year. The company also acquired the 2015-built Jag Amol and the 2016-built Jag Anjali during the second half of 2025. Brokers estimated the price of the Jag Amol at approximately $25 million.
While expanding its kamsarmax fleet, Great Eastern has simultaneously been renewing its overall tonnage by divesting older vessels. Late last year, the company sold the 2011-built panamax bulker Jag Aarati to Norway-based Atlantica Shipping for a reported $14 million to $15 million. Additional vessel sales followed in the very large gas carrier (VLGC) and tanker segments, with the proceeds effectively reinvested into younger tonnage.
Great Eastern currently controls a fleet of 40 ships totalling 3.24 million dwt, consisting of 25 tankers and 15 bulk carriers. The dry bulk fleet comprises two capesize vessels, 10 kamsarmaxes, one ultramax, and two supramaxes. The fleet supports India's seaborne trade, which includes substantial dry bulk imports such as coal for power generation and steelmaking, reflecting the country's position as one of the world's fastest-growing major economies.