Great Eastern Shipping Company 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…

Ship owners are postponing or canceling the installation of “scrubbers” that extract harmful sulphur emissions from their vessels as the coronavirus pandemic tightens finances.Regulations from United Nations agency the International Maritime Organization (IMO), which took effect in January, were viewed by the oil and shipping industries as one of the first worldwide efforts to enforce environmental change.The rules aimed to make ships use fuel with a sulphur content of 0.5%, compared with 3.5% previously. Operators had the alternative option to install devices - scrubbers - to strip out the pollutant, which causes lung problems among humans and contributes to acidification of oceans and acid rain…

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

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 (GE Shipping) has signed a contract to buy a second-hand L2R product carrier of about 105,000 dwt, the company said in a press statement. The company said that 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 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.

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 Al Khattiya liquefied natural gas (LNG) tanker, one of the world's largest, suffered damage to its hull in a collision with an oil tanker off the United Arab Emirates last week, operator Royal Dutch Shell said on Tuesday. Sitting empty off the UAE port of Fujairah, a busy anchorage point on the Gulf of Oman, the tanker was struck by the Jag Laadki operated by India's Great Eastern Shipping Company, Shell said in an email. No injuries or pollution were reported in the Feb. 23 incident, but two of the Al Khattiya's ballast tanks were breached with a loss of some water, it said. Shell said cargo tank pressures were stable indicating no loss of LNG containment on the Al Khattiya, which has a capacity of 210,000 cubic metres. The vessel is owned by Qatari shipping group Nakilat.

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.

Great Eastern Shipping Company (GE Shipping) took delivery of a new building resale Kamsarmax Dry Bulk Carrier ‘Jag Aalok’ of about 82023 dwt. According to a report in the Livement,  the company had contracted to buy the ship in April 2016. The vessel has been built at Jiangsu New Yangzi shipbuilding Co. Ltd., P.R. China. With the inclusion of this vessel, the Company’s current fleet stands at 35 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 12 dry bulk carriers (1 Capesize, 6 Kamsarmax, 5 Supramax) with an average age of 9.35 years aggregating 2.75 mn dwt. Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Capesize Dry Bulk Carrier “Jag Anand” (2011 built) of about 179,250 dwt. The company had contracted to buy the vessel in June 2016. With the inclusion of the vessel, the Company’s current fleet stands at 34 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carriers) and 11 dry bulk carriers (1 Capesize, 5 Kamsarmax, 5 Supramax) with an average age of 9.6 years aggregating 2.67 mn dwt.

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 took delivery of a new building Kamsarmax dry bulk carrier Jag Ajay. Great Eastern Shipping Company Ltd has informed the Bombay Stock Exchange regarding a Press Release dated June 30, 2016 titled: G E Shipping takes delivery of a new building Kamsarmax Dry Bulk Carrier "Jag Ajay". The vessel was ordered by GE Shipping in December 2013 and has been built at Jiangsu New Yangzi Shipbuilding Co. Ltd., P.R. China. With the inclusion of this vessel, 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.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Secondhand Very Large Gas Carrier “Jag Vidhi” (1996 built) of about 76,931 cbm. The company had contracted to buy the vessel in April 2016. With the inclusion of the vessel, the Company’s current fleet stands at 32 vessels, comprising 23 tankers (7 crude carriers, 14 product tankers, 2 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 10.3 years aggregating 2.4 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1999 built Aframax Crude Carrier “Jag Laxmi” to the buyers.  The vessel was contracted for sale in April 2016. The Company’s current fleet (excluding “Jag Laxmi”) stands at 31 vessels, comprising 22 tankers (7 crude carriers, 14 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 10.1 years aggregating 2.4 mn dwt.

The Great Eastern Shipping Company has entered into an agreement to cancel the new building Kamsarmax which was scheduled for delivery in FY 18 (contract signed in FY 14). Simultaneously, the Company has contracted for purchase of two newbuilding resale Kamsarmaxes being built at the same shipyard, due to be delivered in Q2 FY 17. The transactions collectively are value accretive. The company also reported of having contracted to sell its 1999 built Aframax ship Jag Laxmi (about 105,051 dwt). The Korean-built vessel will be delivered to the new buyer in Q1 FY 2016-17. G E Shipping’s current fleet stands at 32 vessels, comprising 23 tankers (8 crude carriers…

The Great Eastern Shipping Company Ltd. (G E Shipping) has contracted to buy a Secondhand Very Large Gas Carrier (1996 built) of about 76,931 cbm. The Japan-built vessel will be delivered to the company in Q1 FY 2016-17. The Company’s current fleet stands at 32 vessels, comprising 23 tankers (8 crude carriers, 14 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 10.4 years aggregating 2.5 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2005-Japanese built Medium Range Product Tanker “Jag Padma” of about 48,000 dwt. The company had contracted to buy the ship in December 2015. With the inclusion of the vessel, the Company’s current fleet stands at 31 vessels, comprising 22 tankers (8 crude carriers, 13 product tankers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 5 Supramax) with an average age of 10.6 years aggregating 2.4 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a Newbuilding Medium Range Product Tanker “Jag Punit” of about 49,700 dwt. The company had contracted to buy the ship in December 2012. The vessel is built at STX Offshore & Shipbuilding Co. Ltd., Jinhae, Korea. With the inclusion of the vessel, the Company’s current fleet stands at 32 vessels, comprising 23 tankers (8 crude carriers, 14 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 10.4 years aggregating 2.5 mn dwt.

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015. The company had ordered the vessel in July 2013 at the Tsuneishi Heavy Industries (Cebu) Inc., Philippines and took delivery of the same on September 1, 2015. The Company’s current fleet (excluding “Jag Aakash”) stands at 30 vessels, comprising 21 tankers (8 crude carriers, 12 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax, 5 Supramax) with an average age of 9.6 years aggregating 2.36 mn dwt. The orderbook comprises 3 dry bulk carriers and 1 product tanker.

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.