GE shipping surges on signing contracts to sell a new building Kamsarmax Dry Bulk Carrier

11 Aug 2015

Great Eastern Shipping Company (GE shipping) is currently trading at Rs. 385.00, up by 7.05 points or 1.87% from its previous closing of Rs. 377.95 on the BSE.

The scrip opened at Rs. 382.50 and has touched a high and low of Rs. 387.00 and Rs. 372.85 respectively. So far 43075 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 467.00 on 16-Sep-2014 and a 52 week low of Rs. 326.75 on 05-Feb-2015.

Last one week high and low of the scrip stood at Rs. 387.50 and Rs. 352.15 respectively. The current market cap of the company is Rs. 5654.14 crore.

The promoters holding in the company stood at 30.41% while Institutions and Non-Institutions held 41.85% and 27.54% respectively.

The Great Eastern Shipping has signed a contracts to sell, a new building Kamsarmax Dry Bulk Carrier ‘Jag Aakash’ (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu), Philippines and will be delivered to the company in August/September 2015. It will subsequently be delivered by the company to the new buyers.

The company’s current fleet stands at 30 vessels, comprising 21 tankers (8 crude carriers, 12 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 9.6 years aggregating 2.36 mn dwt. Excluding ‘Jag Aakash’, the order book comprises 3 dry bulk carriers and 1 product tanker.

Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

Related The Great Eastern Shipping Company Ltd. Links:

GE Shipping Share Price

381.45 -6.75 (-1.74%) May 07, 16:35
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323