Great Eastern Shipping Co. (G E Shipping Co.) delivered its 2003 built Aframax Crude Carrier – Jag Lata, to its buyers.
The vessel, Jag Lata, was contracted for sale in July 2021. Excluding this vessel, Great Eastern Shipping Co. (G E Shipping Co.)’s current fleet stands at 45 vessels, comprising 31 tankers (8 crude carriers, 18 product tankers, 5 LPG carrier) and 14 dry bulk carriers with an average age of 12.01 years aggregating 3.57 million deadweight tonnes (dwt).
G E Shipping Co.’s consolidated net profit slumped 97.4% to Rs 12.36 crore on a 28% decline in net sales to Rs 769.18 crore in FY22 over FY21.
Shares of Great Eastern Shipping Co. (G E Shipping Co.) fell 1.05% to Rs 373 on BSE. G E Shipping Co. has two main businesses: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).