GE Shipping surges on delivering its second VLCC to the buyers

The Great Eastern Shipping Company Ltd. | Shipping | Transportation & Logistics | BSE: 500620 | NSE: GESHIP

15 Feb 2012 Evaluate

GE Shipping is currently trading at Rs. 260.80, up by 3.00 points or 1.16% from its previous closing of Rs. 257.80 on the BSE.

The scrip opened at Rs. 260.00 and has touched a high and low of Rs. 261.70 and Rs. 259.20 respectively. So far 7525 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 305.25 on 03-Jun-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. 263.15 and Rs. 248.75 respectively. The current market cap of the company is Rs. 3956.49 crore.

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

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

This is the second vessels out of the 3 VLCCs which the company had ordered at HHI in April 2010 and subsequently contracted to sell the same in Q1FY12. The third VLCC will be delivered to the buyers in April 2012.

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

1536.35 -41.95 (-2.66%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Shipping Corpn.	318.65
GE Shipping	1536.35
Dredging Corp	946.15
Seamec	1583.70
Shreeji Ship.Global	425.70
View more..

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