The Great Eastern Shipping Contracts Sale of Tanker, Plans Acquisition in Q2 FY27
The Great Eastern Shipping Company Limited (GE Shipping) has announced that it has contracted to sell its 2009 built Long Range 2 Tanker, 'Jag Lokesh', to an unaffiliated third party. The vessel is slated for delivery to the new buyer in the second quarter of Fiscal Year 27 (Q2 FY27).In addition to the sale, the company has secured a contract to purchase one secondhand Long Range 2 Product Tanker. This acquisition transaction is currently expected to be finalized during Q2 FY27.
The sale and planned purchase come amidst an active fleet operation. GE Shipping's current owned fleet stands at 40 vessels in total. The company maintains close to 100% capacity utilization.
As part of its operations, the company’s fleet composition includes a mix of tankers and dry bulk carriers.
Current fleet details are as follows:
| Vessel Type | Subcategory | Quantity |
|---|---|---|
| Tankers | Crude Tankers | 5 |
| Tankers | Product Tankers | 16 |
| Tankers | LPG Carriers | 4 |
| Dry Bulk Carriers | Capesize | 2 |
| Dry Bulk Carriers | Kamsarmax | 10 |
| Dry Bulk Carriers | Ultramax | 1 |
| Dry Bulk Carriers | Supramax | 2 |
The company's total current capacity across these vessels aggregates 3.24 mn dwt.
GESHIP Stock Price Movement
As of 11:37 AM, shares of The Great Eastern Shipping Company Limited are slipping by 2.20% in live trading, currently at ₹1379.1. The stock traded within a tight intraday range between ₹1376.2 and ₹1409.7, with 137,740 shares transacted so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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