GE Shipping Takes Delivery Of ‘Jag Lakshya’

The Great Eastern Shipping Company Limited took the delivery of a secondhand Suezmax crude carrier “Jag Lakshya” of about 157000 dwt. The company had contracted to buy the vessel in December 2016.

With the inclusion of this vessel, the Company’s current fleet stands at 44 vessels, comprising 29 tankers (12 crude carriers, 15 product tankers and 2 LPG carriers) and 15 dry bulk carriers (1 Capesize, 8 Kamsarmax & 6 Supramax) with an average age of 9.42 years, aggregating to 3.69 million dwt. The Great Eastern Shipping Company Limited is engaged in the business of providing shipping services.

The Company's segments include shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. With the expansion in number of vessels, tankers and carriers of the company, GE Shipping may pose a big competition for its peers in the shipping sector.

The stock has seen an upward rally in the past one month, gaining nearly 6% on BSE. The stock has PE ratio of 7.38 and TTM EPS of Rs 52.99.

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About Suhani Varma

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