The shares of the Great Eastern Shipping Company Limited were trading at ₹1,293.80 down by ₹6.75 or 0.52 per cent on the BSE today at 10 am following their announcement yesterday, that it has contracted to sell its Supramax Dry Bulk Carrier, Jag Rani, to an unaffiliated third party. The 56,820 dwt vessel, built in 2011, is scheduled for delivery to the new buyer by Q3 FY25.
This sale follows the company’s July 2024 agreement to sell an MR product tanker, also due for delivery in Q3 FY25. After the sale of Jag Rani, G E Shipping’s fleet will consist of 43 vessels: 29 tankers and 14 dry bulk carriers, totaling 3.41 million dwt. The company’s current fleet includes various vessel types, such as crude carriers, product tankers, LPG carriers, and dry bulk carriers of different sizes.
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Published on August 30, 2024
https://www.thehindubusinessline.com/markets/great-eastern-shipping-stock-falls-after-announcing-sale-of-supramax-dry-bulk-carrier/article68584404.ece
