G E Shipping shines on signing contract to buy secondhand Midsize Gas Carrier

22 Mar 2021

The Great Eastern Shipping Company is currently trading at Rs. 305.90, up by 4.65 points or 1.54% from its previous closing of Rs. 301.25 on the BSE.

The scrip opened at Rs. 303.55 and has touched a high and low of Rs. 308.75 and Rs. 303.50 respectively. So far 1913 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 340.00 on 02-Mar-2021 and a 52 week low of Rs. 168.95 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 339.55 and Rs. 300.00 respectively. The current market cap of the company is Rs. 4427.37 crore.

The promoters holding in the company stood at 29.21%, while Institutions and Non-Institutions held 43.67% and 27.11 % respectively.

Great Eastern Shipping Company (G E Shipping) has signed a contract to buy a secondhand Midsize Gas Carrier of about 35,188 cbm. The 2006 Korean built vessel is expected to join the company’s fleet in Q1 FY 2021-22.

The company’s current fleet stands at 45 vessels, comprising 32 tankers (9 crude carriers, 18 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 11.86 years aggregating 3.64 mn dwt. The company has previously contracted to buy a 2013 built Japanese Supramax Bulk Carrier which is expected to be delivered in Q1 FY 2021-22.

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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