Great Eastern Shipping Company Ltd News

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 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 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 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 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. (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. 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 Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered by GE Shipping in July 2013 and has been built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines. The said vessel was contracted for sale in August 2015 and will be delivered to the new buyers this month. (See: http://www.greatship.com/pdf/JagAakashSale.pdf) 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 Ltd. (G E Shipping) signed a contract to sell, a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines and will be delivered to the company in August/September 2015. It will subsequently be delivered by the company to the new buyers. The Company’s current fleet 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. Excluding “Jag Aakash”, the orderbook comprises 3 dry bulk carriers and 1 product tanker.

Indian shipping company Great Eastern Shipping has announced that its wholly owned subsidiary, Greatship, has sold and delivered anchor handling tug supply (AHTS) vessel Greatship Akhila (7,080 bhp, built 2009) to unnamed buyers. "Greatship (India) Ltd (GIL), a wholly-owned subsidiary of Great Eastern Shipping Company Ltd, has sold and delivered the 2009-built 80T Anchor Handling Tug cum supply vessel 'Greatship Akhila', to the buyers," the company said in a filing to BSE. However, it did not specify the buyers.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier "Jag Arnav". The vessel of about 81,600 dwt was built at Tsuneishi Heavy Industries (Cebu) Inc., Philippines. With the inclusion of the vessel, the Company's current fleet stands at 30 vessels, comprising 21 tankers (8 crude carriers, 12 product tankers, 1 LPG carrier) and 9 dry bulk carriers (4 Kamsarmax and 5 Supramax) with an average age of 9.6 years aggregating 2.4 mn dwt. The company reported a two-fold rise in consolidated net profit at Rs 136.97 crore for the quarter ended March 31, 2015. The company's net profit in the corresponding quarter a year ago was Rs 66.84 crore, it said in a regulatory filing.

The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1996-built Capesize Dry Bulk Carrier “Jag Arjun” (164,796 dwt) to the buyers on 26th February, 2015. The company had contracted to sell the ship earlier this month. Subsequent to the delivery of the vessel, the Company’s fleet stands at 29 vessels, comprising 21 tankers (8 crude carriers, 12 product tankers, 1 LPG carrier) and 8 dry bulk carriers (3 Kamsarmax, 5 Supramax) with an average age of 9.9 years aggregating 2.28 mn dwt. The current orderbook comprises 5 bulk carriers and 1 product tanker.

India's largest private sector shipping firm Great Eastern Shipping Company Ltd. (GE Shipping) has signed a contract to sell a 1996-built capesize dry bulk carrier Jag Arjun by this March-end. "The vessel will be delivered to the buyers during the fourth quarter (January-March) of the current fiscal," the company said in a statement. Capesize dry bulk carriers, the largest cargo ships plying in international waters, are mainly used to transport coal, ores and other commodity material. The company’s current fleet stands at 30 vessels comprising 21 tankers (8 crude carriers 12 product tankers 1 LPG carriers) and 9 dry bulk carriers (1 Capesize 3 Kamsarmax 5 Supramax) with an average age of 10 years aggregating 2.42 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1990-built Very Large Gas Carrier “Jag Vidhi” (49,701 dwt) to the buyers on 21st January, 2015. The company had contracted to sell the ship in July 2014. After the delivery of the vessel, the Company’s current fleet stands at 30 vessels, comprising 21 tankers (8 crude carriers, 12  product tankers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 5 Supramax)  with average age of 10.6 years aggregating 2.45 mn dwt. The current orderbook comprises 5 bulk carriers and 1 product tanker.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery  of a 2004-built Medium Range Product Tanker, Jag Pranam, of about 48,700 dwt. The company had contracted to buy the ship in November 2014, and took delivery in early December.   With the inclusion of the vessel, the company’s current fleet stands at 31 vessels, comprising 22 tankers (eight crude carriers, 12 product tankers and two LPG carriers) and nine dry bulk carriers (one Capesize, three Kamsarmax and five Supramax) with an average age of 9.8 years aggregating 2.5 million dwt. One of the two LPG carriers included in the fleet has been contracted for sale in July 2014.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 2006-built Supramax Bulk Carrier of about 52,454 dwt. The company had contracted to buy the ship earlier this month. Earlier yesterday the company reported having delivered its 1991 built General Purpose Product Carrier “Jag Prachi” (28,610 dwt) to the buyers on 23rd September, 2014. The company had contracted to sell the ship in August 2014. With the sale of "Jag Prachi" and the inclusion of the Supramax Bulk Carrier, 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.   G E Shipping

The Board of Directors of The Great Eastern Shipping Company Ltd (G E Shipping) will meet on Wednesday, 7th May 2014, to consider Unaudited Results (Provisional) for the quarter ended 31st March  2014. An Earnings Call has been scheduled at 04:30 pm (IST) on Wednesday, 7th May, 2014. Mr. G. Shivakumar, CFO would give a financial snapshot and discuss the Company's financial performance. This would be followed by a Q&A session wherein the senior management team would address questions relating to the business and outlook of the Company.   Those interested to participate in the conference call should dial +91-22-67934400

The Great Eastern Shipping Company Ltd. (G E Shipping) today announced having delivered its 1996 built Medium Range Product Tanker “Jag Padma” (47,172 dwt) to the buyers. With the delivery of this vessel, the Company’s current fleet stands at 29 vessels, comprising 21 tankers (8 crude carriers, 12 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax) with an average age of 9.8 years aggregating 2.37 mn dwt. G.E. Shipping

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its new building Kamsarmax dry bulk carrier “Jag Aditi”. The vessel of about 80,700 dwt was built at STX Offshore & Shipbuilding Co.Ltd, South Korea. With the induction of “Jag Aditi”, the Company’s fleet stands at 35 vessels, comprising 27 tankers (10 crude carriers, 16 product tankers, 1 LPG carrier) and 8 (1 Capesize, 2 Kamsarmax, 1 Panamax, 3 Supramax, 1 Handymax) dry bulk carriers with an average age of 9.5 years aggregating 2.71 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a 1994-built Very Large Gas Carrier (VLGC) “Jag Vishnu” [49,300 dwt (73,800 cbm)] on 8th July 2014. Last week G E Shipping had signed a contract to sell a VLGC, “Jag Vidhi” which is a 1990 built vessel of about 49,701 dwt and is due to be delivered to the buyers in the second half of 2014-15. With the induction of “Jag Vishnu”, the Company’s fleet stands at 29 vessels, comprising 21 tankers (8 crude carriers, 12 product tankers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax) with an average age of 9.7 years aggregating  2.37 mn dwt.

The Great Eastern Shipping Company Ltd. (G E Shipping) has signed a contract to sell the 1991-built General Purpose Product Tanker Jag Prachi (28,610 dwt). The vessel will be delivered to buyers in September-October, 2014. The company’s current fleet stands at 30 vessels, comprising 22 tankers (eight crude carriers, 12 product tankers and two LPG carriers) and eight dry bulk carriers (one Capesize, three Kamsarmax and four Supramax) with an average age of 10 years aggregating 2.42 mn dwt. Last month, the company signed a contract to sell one of its two gas carriers. The vessel is scheduled for delivery to buyers in H2 2014. The company has six newbuildings on order, comprising five dry bulk carriers and one product tanker.   Source: GE Shipping