Great Eastern Shipping Company Takes Delivery of Japanese-Built Dry Bulk Carrier

MT Newswires Live04-30 15:55

The Great Eastern Shipping Company (NSE:GESHIP, BOM:500620) has taken delivery of its Japanese-built Kamsarmax dry bulk carrier "Jag Abhishek" of about 81,094 deadweight tonnage (dwt), according to a Thursday filing to the Indian stock exchanges.

The vessel was built in 2014, and the company had contracted to buy the vessel in the fiscal fourth quarter ended March 31.

After this transaction, the company's current owned fleet stands at 41 vessels, comprising 26 tankers and 15 dry bulk carriers aggregating 3.28 million dwt. Its current capacity utilization is close to 100%.

The company has also contracted to buy a second-hand medium-range tanker and contracted to sell its medium-range Tankers "Jag Prakash" and "Jag Pankhi". These transactions are expected to be completed in the first quarter ending June 30.

Great Eastern Shipping's shares were up nearly 2% in recent trade.

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