G E Shipping contracts to sell its 2005 built Medium Range Product Tanker 'Jag Pranav'

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2005 built Medium Range Product Tanker, Jag Pranav of about 51,383 dwt on July 23, 2024 to an unaffiliated third party. The vessel will be delivered to the new buyer by Q2/Q3 FY25.

Including Jag Pranav, Company's current fleet stands at 43 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carrier) and 14 dry bulk carriers (2 Capesize, 8 Kamsarmax, 4 Supramax) aggregating 3.41 Mn dwt.

Additionally, we had contracted to sell one MR product tanker in May 2024 and buy one MR product tanker in June 2024, which are due for deliveries in Q2FY25.

Shares of The Great Eastern Shipping Company Limited was last trading in BSE at Rs. 1324.40 as compared to the previous close of Rs. 1366.30. The total number of shares traded during the day was 166121 in over 8714 trades.

The stock hit an intraday high of Rs. 1390.75 and intraday low of 1260.00. The net turnover during the day was Rs. 223230470.00.

Source : Equity Bulls

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