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Last Updated : Nov 17, 2020 10:43 AM IST | Source: Moneycontrol.com

GE Shipping signs contracts to buy second hand capesize bulk carrier; share price gains 2%

The company has also contracted to buy a secondhand LR2 tanker which will be delivered to us in Q3 FY21.

 
 
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Great Eastern Shipping Company share price rose nearly 2 percent intraday on November 17 after the company signed a contract to buy a second hand Capesize Bulk Carrier.

The 2014 Philippines built vessel is expected to join the company’s fleet in H2 FY21.

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.

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The company has also contracted to buy a second hand LR2 tanker which will be delivered to us in Q3 FY21.

geshipping

At 10:01 hrs Great Eastern Shipping Company was quoting at Rs 243, up Rs 3.15, or 1.31 percent on the BSE.

The share touched its 52-week high Rs 369.35 and 52-week low Rs 168.95 on 17 January, 2020 and 23 March, 2020, respectively.

Currently, it is trading 34.21 percent below its 52-week high and 43.83 percent above its 52-week low.
First Published on Nov 17, 2020 10:43 am
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