The Great Eastern Shipping Company Limited News

The Great Eastern Shipping Company Limited announced it has contracted to buy a medium range (MR) product tanker of about 49,999 dwt on February 14, 2024. The 2010-built vessel is expected to join the company’s fleet by Q1 FY25.The proposed ship will be financed entirely from internal accruals, the Mumbai-based company said, noting that the purchase is part of a wider effort to modernize and expand its fleet.Excluding the newly acquired vessel, the company’s current fleet stands at 42 vessels…

The Great Eastern Shipping Company Limited (G E Shipping) took delivery of secondhand Very Large Gas Carrier "Jag Vasant" of about 83,270 cbm. The company had contracted to buy the vessel in Q2 FY19.The Company's current fleet stands at 49 vessels, comprising 35 tankers (12 crude carriers, 17 product tankers, 6 LPG carrier) and 14 dry bulk carriers (1 Capesize, 8 Kamsarmax, 5 Supramax) with an average age of 10.90 years aggregating 3.98 mn dwt.The Great Eastern Shipping Company Limited is India's largest private sector shipping company which mainly transports liquid, gas and solid bulk products. The company has two main business, shipping and offshore.The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities.

India's largest private sector shipping company which mainly transports liquid, gas and solid bulk products Great Eastern Shipping Company Limited (GE Shipping) signed a contract to buy a secondhand Very Large Gas Carrier (VLGC) of about 81,617 cbm. The 2007 built vessel is expected to join the Company’s fleet in Q1 FY19. This is the second gas carrier in less than a week as GE Shipping looks to tap the rising demand to import liquefied petroleum gas (LPG) in India. On March 26, GE Shipping  signed a contract to buy a secondhand Medium Gas Carrier (MGC) of about 36,567 cbm. The 1996 built vessel is expected to join the Company’s fleet in Q1 FY19.

India’s largest private sector shipping company  Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt. G E Shipping has two main business : shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities.

The Great Eastern Shipping Company Limited (G E Shipping) said it has signed a contract to buy a secondhand Long Range 2 (LR2) product carrier of about 105,000 dwt. The 2009 built vessel is expected to join the company’s fleet in Q2/Q3 FY18.   The company’s current fleet stands at 46 vessels, comprising 30 tankers (12 crude carriers, 16 product tankers, 2 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 9.76 years aggregating 3.80 mn dwt.

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Supramax Dry Bulk Carrier of about 52,450 dwt. The 2006 built vessel is expected to join the Company’s fleet in Q1 FY18. The Company’s current fleet stands at 43 vessels, comprising 28 tankers (11 crude carriers, 15 product tankers, 2 LPG carrier) and 15 dry bulk carriers (1 Capesize, 8 Kamsarmax, 6 Supramax) with an average age of 9.56 years aggregating 3.54 mn dwt. The company has also committed to purchase 1 Secondhand Suezmax Crude Carrier. The Great Eastern Shipping Company Limited is engaged in the business of providing shipping services. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities.

The Great Eastern Shipping Company Limited (GE Shipping) has signed contracts to buy 2 Suezmax crude Carriers of about 157,000dwt each. The 2010 and 2011 built vessels are expected to join the company's fleet in Q4 FY17. Last week, the company had inked a pact to buy another Suezmax Crude Carrier of about 1,50,000 dwt. The Company’s current fleet stands at 38 vessels, comprising 24 tankers (7 crude carriers, 15 product tankers, 2 LPG carriers) and 14 dry bulk carriers (1 Capesize, 7 Kamsarmaxes, 6 Supramaxes) with an average age of 9.89 years aggregating 2.94 mn dwt. Additionally, the company has 2 Secondhand Aframaxes, 1 Secondhand Suezmax & 1 Newbuilding Kamsarmax on order. After delivery of these 6 contracted vessels, the company will have a fleet of 44 vessels.

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,539 dwt. The 2005 Japanese built vessel is expected to join the Company’s fleet in Q2 FY17. The Company’s current fleet stands at 33 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 10 dry bulk carriers (5 Kamsarmax, 5 Supramax) with an average age of 9.97 years aggregating 2.48 mn dwt. Additionally, the company has 3 Newbuilding Kamsarmaxes and 1 secondhand Capesize Bulk Carrier on order.

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,000 dwt. The 2005 Japanese built vessel, to be renamed “Jag Padma”, is expected to join the Company’s fleet by January 2016. EArlier the company had announced its results for the third quarter. It reported that its net profit rose 85.19% to Rs 382.67 crore in the quarter ended September 2015 as against Rs 206.64 crore during the previous quarter ended September 2014. Sales rose 20.23% to Rs 1026.89 crore in the quarter ended September 2015 as against Rs 854.08 crore during the previous quarter ended September 2014.

India's  largest domestic ship liner Great Eastern Shipping Company today reported a 45 percent jump in its consolidated net profit to Rs 323.67 crore ($50 million) for the quarter ended June 30, on the back of higher income. Sales during April-June rose 17 percent to 947 crores versus 808.2 crores. GE Shipping's finance costs fell to 69.9 crore rupees compared with 75.3 crore rupees earlier. Segment wise, shipping sector contributed Rs 563.42 crore revenue while offshore sector contribution stood at Rs 497.44 crore. In June 2015, the company took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Arnav”. The vessel of about 81,600 dwt was built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines.

Greatship (India) Limited (GIL), a wholly owned subsidiary of The Great Eastern Shipping Company Limited, has signed a contract to buy a 2015-built 4000 dwt Platform Supply Vessel (PSV). The vessel is expected to join the Company’s fleet during Q4FY2015. GIL and its subsidiaries currently own and operate four PSVs, nine AHTSVs, two MPSSVs, six ROVSVs and three Jack up rigs and have one mobile offshore self-elevating jack up rig under construction in UAE.

The Great Eastern Shipping Company Limited (G E Shipping) signed a contract to buy a Medium Range Product Tanker of about 48,700 dwt on 4th November, 2014. The 2004 Japanese built vessel is expected to join the Company’s fleet in the current quarter. The Company’s current fleet stands at 30 vessels, comprising 21 tankers (8 crude carriers, 11  product tankers, 2 LPG carriers) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 5 Supramax)  with an average age of 9.8 years aggregating 2.45 mn dwt.

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a Supramax Bulk Carrier of about 52,454 dwt. The 2006 built vessel is expected to join the Company’s fleet in September-October 2014. The Company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 12  product tankers, 2 LPG carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax)  with an average age of 10 years aggregating 2.42 mn dwt. Last month, the company contracted to sell a General Purpose product tanker which will be delivered to the buyers in September-October 2014. In July 2014, the company signed a contract to sell one of its two gas carriers. The vessel is scheduled for delivery to buyers in H2 2014-15.

Greatship’s subsidiary takes delivery of a mobile offshore self elevating drilling rig, Le Tourneau Super 116(E) – ‘Greatdrill Chaaya’. Greatship Global Energy Services Pte. Ltd., a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a wholly owned subsidiary of The Great Eastern Shipping Company Limited has taken delivery of a mobile offshore self elevating drilling rig, Le Tourneau Super 116(E) – ‘Greatdrill Chaaya’ from Lamprell Energy Ltd., UAE. Greatdrill Chaaya is an independent Leg Cantilever type Jack up rig with 15000 PSI pressure rating, designed to operate in water depths of up to 350 feet. She is a state of the art cyber rig, built with the latest technology, equipments and systems.

Greatship Global Offshore Services Pte. Ltd. (GGOS), a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a wholly owned subsidiary of The Great Eastern Shipping Company Limited has taken delivery of a Platform/ROV  Support Vessel, GREATSHIP RAGINI, from Colombo Dockyard Plc, Sri Lanka. Greatship Ragini is a DP2 vessel, capable of supporting offshore exploration and production and has been built complying with the SPS Code 2008. With the delivery of Greatship Ragini, GIL and its subsidiaries currently own and operate four PSVs, nine AHTSVs, two MPSSVs, six ROVSVs, two jack up rigs and have one 350 feet jack up rig under construction in UAE.

Singapore's Greatship Global Offshore Services Pte. Ltd. takes delivery of the vessel from Colombo Dockyard, Sri Lnaka. Greatship Global Offshore Services Pte. Ltd. (GGOS), a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a wholly owned subsidiary of The Great Eastern Shipping Company Limited has taken delivery of a Platform/ROV  Support Vessel, Greatship Ragini. Greatship Ragini is a DP2 vessel, capable of supporting offshore exploration and production and has been built complying with the SPS Code 2008. With the delivery of this vessel, GIL and its subsidiaries currently own and operate four PSVs, nine AHTSVs, two MPSSVs, six ROVSVs, two jack up rigs and have one 350 feet jack up rig under construction in UAE.

Greatship (India) Limited, wholly owned subsidiary of The Great Eastern Shipping Company Limited, Mumbai India, has confirmed an agreement with Aker Yards, for the building of two Platform Supply Vessels of UT 755 LN type. Delivery is scheduled for July and October 2008.

Great Eastern Shipping Company signs contract to buy a 1990-built Very Large Gas Carrier (VLGC) The Great Eastern Shipping Company Limited (G E Shipping) has signed contract to buy a Very Large Gas Carrier (VLGC) of about 49,700 dwt (75,000 cbm). The 1990-built vessel is expected to join the Company’s fleet during Q2FY2013. The Company’s current fleet stands at 32 vessels, comprising 22 tankers (9 crude carriers, 13 product carriers) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.7 years aggregating 2.55-million dwt.

The Great Eastern Shipping Company Limited (G E Shipping) has signed a contract to buy a 1,47,092 dwt, modern (double hull) Suezmax crude tanker. The 2000 built ship is expected to join the Company's fleet during the second quarter of FY 2007-08. The decision to induct the said vessel is with the objective of modernizing the tanker tonnage and to enhance the Suezmax fleet. The company's current fleet of 46 ships with an average age of 12.2 years aggregating 3.22 mn dwt comprises 34 tankers (13 crude tankers, 19 product carriers and 2 lpg gas carriers) and 12 dry bulk carriers. The outstanding new building order of $239mconstitutes 5 product tankers, aggregating 0.33 Mn dwt. to be delivered at intervals during the next 2 years.