GE Shipping contracts to sell its 2009 built Long Range 2 Tanker 'Jag Lokesh'

The Great Eastern Shipping Company Limited (GE Shipping) has contracted to sell its 2009 built Long Range 2 Tanker "Jag Lokesh" of about 105,900 dwt, to an unaffiliated third party. The vessel will be delivered to the new buyer in Q2 FY27.

Including Jag Lokesh, the company's current owned fleet stands at 40 vessels, comprising 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.24 mn dwt. The Company's current capacity utilization is close to 100%.

Additionally, the company has contracted to buy one secondhand Long Range 2 Product Tanker (2015 built) and this purchase transaction is expected to be completed in Q2 FY27.

Shares of The Great Eastern Shipping Company Limited was last trading in BSE at Rs. 1384.30 as compared to the previous close of Rs. 1410.55. The total number of shares traded during the day was 23490 in over 1728 trades.

The stock hit an intraday high of Rs. 1410.50 and intraday low of 1376.05. The net turnover during the day was Rs. 32587125.00.

Source : Equity Bulls

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TheGreatEasternShippingCompany INE017A01032 GEShipping Sale LongRange2Tanker JagLokesh