India’s Great Eastern Shipping has signed a contract to buy a secondhand VLGC, the company announced this week as it marked its 70th birthday and posted a quarterly loss.

The Mitsubishi Heavy Industries-built, 81,605-cbm vessel, which was built in 2006, is expected to join the fleet in the second quarter of the fiscal year.

This deal marks the second time Great Eastern Shipping, India’s largest private-sector shipping company, has bought a VLGC this year.