GE Shipping gains on entering into contract to acquire new-building Suezmax Tanker
The Great Eastern Shipping Company is currently trading at Rs. 1555.30, up by 22.55 points or 1.47% from its previous closing of Rs. 1532.75 on the BSE.
The scrip opened at Rs. 1535.00 and has touched a high and low of Rs. 1581.95 and Rs. 1527.00 respectively. So far 71997 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1798.00 on 19-May-2026 and a 52 week low of Rs. 972.25 on 29-Sep-2025.
Last one week high and low of the scrip stood at Rs. 1581.95 and Rs. 1,460.00 respectively. The current market cap of the company is Rs. 22200.29 crore.
The promoters holding in the company stood at 30.07%, while Institutions and Non-Institutions held 43.83% and 26.09% respectively.
The Great Eastern Shipping Company (GE Shipping) has entered into a contract for acquisition of a new-building Suezmax Tanker of about 157,000 dwt on September 28, 2026, to be constructed in the Far East by one of the world’s leading shipbuilders. The vessel is scheduled for delivery in the second half of FY 2028-29. Currently, the vessel is proposed to be financed from internal accruals. The purpose of the acquisition is expansion of the fleet.
The company’s current owned fleet stands at 40 vessels, comprising 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.24 mn dwt. The company’s current capacity utilization is close to 100%.
Additionally, the company has contracted to buy two secondhand Kamsarmax Dry Bulk Carriers, and these transactions are expected to be completed in Q3 FY27.
