G E Shipping contracts to buy a Secondhand Capesize Bulk Carrier

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a secondhand Capesize Bulk Carrier. The 2014 Philippines built vessel is expected to join the Company's fleet in H2 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 also contracted to buy a secondhand LR2 tanker which will be delivered to us in Q3 FY21.

Shares of GREAT EASTERN SHIPPING CO.LTD. was last trading in BSE at Rs.240.5 as compared to the previous close of Rs. 236.15. The total number of shares traded during the day was 12360 in over 1224 trades.

The stock hit an intraday high of Rs. 242.7 and intraday low of 234. The net turnover during the day was Rs. 2959556.

Source : Equity Bulls

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