Greatship (India) becomes wholly owned subsidiary of GE Shipping

Greatship (India) (GIL), a subsidiary of Great Eastern Shipping Company (GE Shipping) has now become a wholly owned subsidiary of the company. This is pursuant to acquisition of balance 1.89% shares of GIL by the company. Earlier, GE Shipping was holding 98.11% equity share capital of GIL.

GE Shipping is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore. The shipping business includes transportation of crude oil, petroleum products, gas and dry bulk commodities, while the offshore business caters to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Greatship (India).