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GE Shipping surges on taking delivery of secondhand Suezmax Crude Carrier ‘Jag Leena’

16 Mar 2017

The Great Eastern Shipping Company is currently trading at Rs. 394.30, up by 17.80 points or 4.73% from its previous closing of Rs. 376.50 on the BSE.

The scrip opened at Rs. 379.50 and has touched a high and low of Rs. 395.00 and Rs. 377.55 respectively. So far 16769 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 410.40 on 20-Jan-2017 and a 52 week low of Rs. 296.60 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 395.00 and Rs. 367.00 respectively. The current market cap of the company is Rs. 5940.62 crore.

The promoters holding in the company stood at 30.41%, while Institutions and Non-Institutions held 42.55% and 26.77% respectively.

Great Eastern Shipping Company (GE Shipping) has taken delivery of a secondhand Suezmax Crude Carrier ‘Jag Leena’ (2010 Built) of about 157,000 dwt. The company had contracted to buy the vessel in December 2016.

With the inclusion of this vessel, the company's current fleet stands at 43 vessels, comprising 28 tankers (11 crude carriers, 15 product tankers, 2 LPG carrier) and 15 dry bulk carriers (1 Capesize, 8 Kamsarmax, 6 Supramax) with an average age of 9.56 years aggregating 3.54 mn dwt. Additionally, the company has committed to purchase 1 Secondhand Suezmaxes.

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:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323