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Essar Shipping soars on berthing first MiniCape in India

21 Feb 2012 Evaluate

Essar Shipping is currently trading at Rs. 34.60, up by 1.00 points or 2.98% from its previous closing of Rs. 33.60 on the BSE.

The scrip opened at Rs. 33.50 and has touched a high and low of Rs. 35.60 and Rs. 33.50 respectively. So far 46000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.00 on 15-Nov-2011 and a 52 week low of Rs. 16.20 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 35.60 and Rs. 30.60 respectively. The current market cap of the company is Rs. 710 crore.

The promoters holding in the company stood at 83.71% while Institutions and Non-Institutions held 8.54% and 7.76% respectively.

Gujarat saw berthing of the first MiniCape vessel in India “MV Kamlesh” by Essar Shipping (ESL). On its maiden voyage to Hazira, the vessel is carrying 100,000 tonnes of coal from Australia for Essar Steel.

The company has created this new segment of 105,000 DWT (dead weight tonnage) and MV Kamlesh is the first vessel in a series of six that Essar will acquire in the next 5 months. This is in line with the company’s strategy to strengthen its bulk carrier fleet with modern vessels as the world trade continues to grow with the increased economic activities. These double-bottom mini cape vessels are built conforming to the standards of the American Bureau of Shipping.

These six state-of-the-art vessels built at STX Shipyard are specially designed shallow draft vessels that will provide substantially higher cargo carrying capacity.

Essar Shipping has an enviable track record of accident free/pollution free transportation. The company, through its operating track record of over 30 years has significant expertise in sea transportation and supply chain management services to steel industry, cement industry, refining industry, fertilizer industry and electricity generating companies.

Essar Shipping Share Price

27.21 -0.58 (-2.09%)
20-Apr-2026 15:10 View Price Chart
Peers
Company Name CMP
Shipping Corpn. 301.55
GE Shipping 1426.40
Dredging Corp 1005.30
Seamec 1561.50
Shreeji Ship.Global 371.25
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