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GE Shipping gains on delivering VLCC to its new buyers

09 Jan 2012 Evaluate

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs 207.50, up by 1.70 points or 0.83% from its previous closing of Rs 205.80 on the BSE.

The scrip opened at Rs 208.00 and has touched a high and low of Rs 208.00 and Rs 204.05 respectively.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 336.70 on 14-Jan-2011 and a 52 week low of Rs 183.00 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs 213.00 and Rs 187.10 respectively. The current market cap of the company is Rs 3108.23 crore.

The promoters holding in the company stood at 29.86% while Institutions and Non-Institutions held 37.22% and 32.71% respectively. 

GE Shipping has taken delivery of its 318,000dwt very large crude carrier (VLCC) ‘Maneklal Ujamshi Sheth’ from Hyundai Heavy Industries (HHI), South Korea and subsequently delivered the vessel to its new buyers.

This vessel is one of the VLCCs which company had ordered at HHI in April 2010 and subsequently contracted to sell the same in Q1 FY12. The remaining 2 VLCCs will be delivered to the buyers between February and April 2012.

Following the delivery, the company’s current fleet stands at 34 vessels, comprising of 24 tankers (9 crude carriers, 14 product tankers, 1 LPG carrier) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.9 years aggregating 2.62 million dwt.

GE Shipping is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore. The shipping business includes transportation of crude oil, petroleum products, gas and dry bulk commodities, while the offshore business caters to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).  

GE Shipping Share Price

1425.30 44.05 (3.19%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 305.85
GE Shipping 1425.30
Dredging Corp 976.65
Seamec 1556.00
Shreeji Ship.Global 377.10
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