GE Shipping gains on taking delivery of second hand Aframax Crude Carrier ‘Jag Leela’

19 Jan 2017

Great Eastern Shipping Company (GE Shipping) is currently trading at Rs. 389.00, up by 4.20 points or 1.09% from its previous closing of Rs. 384.80 on the BSE.

The scrip opened at Rs. 386.40 and has touched a high and low of Rs. 393.00 and Rs. 386.40 respectively.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 397.60 on 01-Nov-2016 and a 52 week low of Rs. 275.00 on 02-Mar-2016.

Last one week high and low of the scrip stood at Rs. 393.00 and Rs. 375.15 respectively. The current market cap of the company is Rs. 5,925.33 crore.

The promoters holding in the company stood at 30.41%, while Institutions and Non-Institutions held 42.55% and 27.05% respectively.

GE Shipping has taken delivery of a second hand Aframax Crude Carrier ‘Jag Leela’ (built 2011) of about 105,525 dwt. The company had contracted to buy the vessel in November 2016.

With the inclusion of this vessel, the company's current fleet stands at 40 vessels, comprising 25 tankers (8 crude carriers, 15 product tankers, 2 LPG carrier) and 15 dry bulk carriers (1 Capesize, 8 Kamsarmax, 6 Supramax) with an average age of 9.33 years aggregating 3.12 mn dwt. Additionally, the company has committed to purchase 1 Second hand Aframax and 3 Second hand Suezmaxes.

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

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GE Shipping Share Price

384.25 -3.95 (-1.02%) May 07, 15:07
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323