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G E Shipping contracts to sell its two oldest Suezmax Crude Carriers ‘Jag Lateef’ & ‘Jag Laadki’

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2000 built Suezmax Crude Carriers, Jag Lateef and Jag Laadki of about 147,080 dwt and about 150,284 dwt respectively. The vessels will be delivered to the new buyers in H2 FY 2020-21.

The Company’s current fleet stands at 47 vessels, comprising 34 tankers (11 crude carriers, 18 product tankers, 5 LPG carrier) and 13 dry bulk carriers with an average age of 12.48 years aggregating 3.80 mn dwt. The company has also contracted to buy a Secondhand Capesize Bulk Carrier which is expected to be delivered in H2 FY 2020-21.

Shares of GREAT EASTERN SHIPPING CO.LTD. was last trading in BSE at Rs.250.2 as compared to the previous close of Rs. 248.25. The total number of shares traded during the day was 4153 in over 204 trades.

The stock hit an intraday high of Rs. 255.5 and intraday low of 247. The net turnover during the day was Rs. 1034673.
Source: Equity Bulls

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