G E Shipping contracts to sell its old Midsize Gas Carrier (1996 Built) 'Jag Vayu'

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 1996 built Midsize Gas Carrier, Jag Vayu (1996 Built) of about 36,567 cbm. The vessel will be delivered to the new buyers in H1 FY 2021-22.

Including this vessel, the Company's current fleet stands at 46 vessels, comprising 33 tankers (9 crude carriers, 18 product tankers, 6 LPG carrier) and 13 dry bulk carriers with an average age of 12.02 years aggregating 3.66 mn dwt. The company has previously contracted to buy a 2013 built Japanese Supramax Bulk Carrier which is expected to be delivered in Q1 FY 2021-22.

Shares of GREAT EASTERN SHIPPING CO.LTD. was last trading in BSE at Rs.393 as compared to the previous close of Rs. 381.45. The total number of shares traded during the day was 40273 in over 2324 trades.

The stock hit an intraday high of Rs. 405 and intraday low of 387. The net turnover during the day was Rs. 15934171.

Source : Equity Bulls

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