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

The company has also contracted to buy a Very Large Gas Carrier which is expected to be delivered in Q3FY21, it added.

Oct 12, 2020 04:10 IST India Infoline News Service

GE Shipping
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, G E Shipping said in the exchange filing on Friday.

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, G E Shipping said.

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, it added.

The stock ended at Rs221.50, down by Rs6.35 or 2.79% from its previous closing of Rs227.85 on the BSE.

The scrip opened at Rs229.25 and has touched a high and low of Rs231.70 and Rs216.45 respectively.

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