G E Shipping contracts to buy a Secondhand Long Range 2 Product Carrier

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a secondhand LR2 Product Carrier of about 105,258 dwt. The 2012 South Korean built vessel is expected to join the Company's fleet in Q3 FY21.

The Company's current fleet stands at 46 vessels, comprising 33 tankers (11 crude carriers, 17 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 12.39 years aggregating 3.70 mn dwt. The company has already contracted to sell its 1996 built Very Large Gas Carrier Jag Vidhi which will be delivered to buyers in Q3 FY21.The company has also contracted to buy a Very Large Gas Carrier which is expected to be delivered in Q3FY21.

Shares of GREAT EASTERN SHIPPING CO.LTD. was last trading in BSE at Rs.228.2 as compared to the previous close of Rs. 231.25. The total number of shares traded during the day was 4472 in over 439 trades.

The stock hit an intraday high of Rs. 233.5 and intraday low of 226.6. The net turnover during the day was Rs. 1027804.

Source : Equity Bulls

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