G E Shipping contracts to sell its old Midsize Gas Carrier 'Jag Vijaya'; Stock rallies 3%

16 May 2022 , 12:06 PM

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 1997 built Midsize Gas Carrier Jag Vijaya of about 35,421 cbm. The vessel will be delivered to the new buyer in H1 FY 2022-23.

Including Jag Vijaya, company’s current fleet stands at 45 vessels, comprising 31 tankers (8 crude carriers, 18 product tankers, 5 LPG carrier) and 14 dry bulk carriers (2 Capesize, 7 Kamsarmax, 5 Supramax) with an average age of 12.66 years aggregating 3.57 mn dwt.

Great Eastern Shipping Company was trading at Rs389.85 apiece up by Rs11.55 or 3.05% from its previous closing of Rs378.30 apiece on the BSE, at around 12:12 PM.