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GE Shipping gains on inking contract to buy Supramax Bulk Carrier

08 Sep 2014

Great Eastern Shipping Company is currently trading at Rs 401.70, up by 5.75 points or 1.45% from its previous closing of Rs. 395.95 on the BSE.

The scrip opened at Rs 400.00 and has touched a high and low of Rs 407.30 and Rs 399.20 respectively. So far 12493 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs. 408.75 on 02-Sep-2014 and a 52 week low of Rs. 254.10 on 06-Sep-2013.

Last one week high and low of the scrip stood at Rs. 408.75 and Rs. 355.00 respectively. The current market cap of the company is Rs. 6075.56 crore.

The promoters holding in the company stood at 30.50% while Institutions and Non-Institutions held 40.93% and 28.37% respectively.

The Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the company’s fleet in September-October 2014.

The company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 12 product tankers, 2 LPG carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax) with an average age of 10 years aggregating 2.42 mn dwt.

Last month, the company contracted to sell a General Purpose product tanker which will be delivered to the buyers in September-October 2014. In July 2014, the company signed a contract to sell one of its two gas carriers. The vessel is scheduled for delivery to buyers in H2 2014. The company has 6 new buildings on order, comprising 5 dry bulk carriers and 1 product tanker.

Related The Great Eastern Shipping Company Ltd. Links:

GE Shipping Share Price

404.20 -6.40 (-1.56%) Jun 17, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323