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Great Eastern Shipping Co Ltd News

03 Jul 2014

G E Shipping Contracts to Sell a VLGC

The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Vidhi”, a Very Large Gas Carrier. The 1990 built vessel of about 49,701 dwt will be delivered to the buyers in the second half of 2014-15. On 21st May this year the company had delivered its 1996 built Medium Range Product Tanker “Jag Padma” (47,172 dwt) to the buyers. Excluding “Jag Vidhi”, the Company’s fleet stands at 28 vessels, comprising 20 tankers (8 crude carriers, 12 product carriers) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 9.5 years aggregating 2.32 mn dwt. The company has six new buildings on order. A Medium Range (MR) Product Tanker is on order with STX (Dalian) Shipbuilding Co. Ltd.,China.

21 May 2014

India’s Seaborne Oil, Bulk Liquids & Gas Tanker Trade Conference

India Tanker Conference the biggest event of Hinode Events and Services Pvt Ltd, and the first one on the Tanker trade is set to take off on JUNE 5 in Mumbai at the Hotel Vivanta by Taj - President, in MUMBAI. This First Annual Conference on the Outlook for India’s Seaborne Oil, Bulk Liquids and Gas Tanker Trade, will explore the current challenges and outlook for the seaborne transportation of crude oil, bulk liquids AND gas cargoes encompassing the shipment of crude oil, petroleum products, petrochemicals, liquefied gases as well as vegetable oils, etc. Over 200 delegates are expected to attend. They will represent a wide cross section of the trade and industry including Ship owners and operators, charterers, cargo interests.

02 May 2014

G E Shipping contracts to sell a Medium Range product tanker

The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell “Jag Padma”, a Medium Range (MR) product tanker. The 1996 built vessel of about 47,172 dwt will be delivered to the buyers in May 2014. Including “Jag Padma”, the Company’s current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 13 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 10 years aggregating 2.42 mn dwt. Great Eastern Shipping

07 Apr 2010

Great Eastern Shipping Orders Super Tankers

According to an April 5 report from the Wall Street Journal, Great Eastern Shipping Co. Ltd, India’s biggest private ocean carrier, has ordered three new oil super tankers or so-called very large crude carriers at South Korea’s Hyundai Heavy Industries Co. Ltd for an undisclosed amount. (Source: The Wall Street Journal)

13 Jan 2009

GE Shipping Cancels Two Newbuildings

Great Eastern Shipping Co Ltd said on Jan. 8 that it has cancelled two new ship-building contracts, citing the highly uncertain business environment. (Source: Reuters India)

13 Nov 2008

Indian Navy Thwarts Pirate Attack

On 11 Nov 2008, an attack by pirates on the Indian ship MV Jag Arnav in the Gulf of Aden was thwarted by an Indian naval warship patrolling in the area. This attack on MV Jag Arnav took place at about 1030 h on the morning of 11 Nov 2008, when the ship was 60 nm east of Aden. The alarm raised by the merchant ship was monitored by an Indian naval ship patrolling in the vicinity. An armed helicopter with marine commandoes was launched from the naval ship to intervene and prevent the pirates from boarding and hijacking the merchant vessel. This timely and successful intervention led to the pirates aborting their attempt. The naval ship thereafter closed the Indian merchant ship to escort her to safety. MV Jag Arnav, a 38,265 tonnes bulk carrier is owned by the Great Eastern Shipping Co Ltd.

28 Feb 2008

Great Eastern Shipping to Sell Product Tankers

Great Eastern Shipping Co Ltd said it plans to sell two medium range product tankers for an undisclosed sum. The tankers would be delivered to their buyers in the first quarter of 2009/10, it said in a statement. Great Eastern Shipping has a fleet of 47 vessels consisting of 34 tankers and 13 dry bulk carriers. Source: Reuters

09 Mar 2004

STX Gets Orders for Tankers

GESCO(Great Eastern Shipping Co., Ltd.) of India has ordered four 47,400 DWT Product Oil/Chemical Tankers from STX Shipbuilding. The vessels ordered have a length of 183m, a breadth of 32.2m, a depth of 19.1m with a service speed of 14.8 knots. The tankers are scheduled to be delivered by 2007. GESCO is an Indian government enterprise established in 1948, and this is its first dealing with STX Shipbuilding.

02 Jan 2001

Petronet To Seek Fresh Shipping Bids

India's Petronet LNG will seek fresh price bids from the four consortia left in the race for a contract to ship liquefied natural gas (LNG) from Qatar to a terminal at west coast Dahej. "Technical bids have been opened and deviations are being sorted out. Once that is over, fresh price bids would be asked from the four," the official, who did not want to be identified, told Reuters. He said the deadline for selecting the shippers is March 31. Of the eight consortia which were pre-qualified after global competitive bidding, only four submitted technical and price bids. * Indian Oil Corp., Exmar of Belgium and Great Eastern Shipping Co. Ltd. * Essar Shipping and Malaysia International Shipping Corp.

22 Aug 2006

GE Shipping Unit Orders AHTS

Great Eastern Shipping Co. Ltd. said on Monday its subsidiary had signed a contract to buy two vessels from Sri Lanka's Colombo Dockyard Ltd. The anchor handling tug and supply vessels would be delivered to Greatship (India) Ltd. during the third and fourth quarters of the year to March 2008, the company said in a statement. Source: Reuters

15 Jun 2006

Keppel Secures Rig Order

Keppel FELS Ltd (Keppel FELS) has secured its fourth order from India for a KFELS B Class jackup rig. Valued at US$182 million, this rig is for the Great Eastern Shipping Co. Ltd. Group (G.E. Shipping). This will be G.E. Shipping’s first newbuild drilling rig and is scheduled for delivery by the fourth quarter of 2009. It will be further customised to meet G.E. Shipping’s operational requirements for water depths of up to 350 feet and readily upgradeable to 400 feet. The rig will have capabilities to drill in 30,000 feet water depth and can accommodate 112 men. According to India’s national oil company, Oil And Natural Gas Corporation Limited (ONGC), it aims to double E&P reserves to six billion tonnes by 2020, out of which four billion tonnes are from deep waters. G.E.

04 May 2001

GE Shipping Shares Rise

Shares of The Great Eastern Shipping Co. Ltd, India's largest privately-owned shipping company, rose as much as 7.2 percent in a flat market on Friday buoyed by a new share buy-back plan. The stock was also boosted by news the company posted a 69 percent rise in the January-March quarter. The company announced late Thursday it plans to buy back stock from shareholders, at a maximum price of 42 rupees, a 32 percent premium to Thursday's closing price. It also reported net profit grew 69 percent to 545.9 million rupees in the three months ended March and 66 percent to 1.8 billion in the year to March. This is the second time a buy-back is being offered by the company in less than a year and follows the buy-back announced in October last year at the same price.