Mumbai, October 31 (Udaipur Kiran): Shares of The Great Eastern Shipping Company (G E Shipping) gained over 3% in early trading on Friday after the company announced that it has contracted to acquire an Ultramax dry bulk carrier of about 63,500 deadweight tonnage (dwt), further expanding its operational fleet.
The stock opened at Rs. 1083.05 on the BSE and surged to Rs. 1116.65, up Rs. 33.65 or 3.11% from its previous close of Rs. 1083.00. It touched an intraday low of Rs. 1076.10, with a total of 20,280 shares traded so far. The company’s market capitalization currently stands at Rs. 15,679.40 crore.
G E Shipping’s 52-week high is Rs. 1335.00 (07-Nov-2024), and the 52-week low is Rs. 797.25 (04-Mar-2025). Over the past week, the stock has traded between Rs. 1128.45 and Rs. 1021.50.
In terms of shareholding, promoters hold 30.07%, while institutional investors own 40.71% and non-institutional investors hold 29.21%.
According to the company, the 2019 Japan-built Ultramax vessel will join its fleet by Q4 FY26 and will be financed entirely through internal accruals. The acquisition aligns with the company’s plan to expand its dry bulk capacity and strengthen its position in global maritime trade.
Currently, G E Shipping owns 41 vessels, including 27 tankers (6 crude carriers, 17 product tankers, and 4 LPG carriers) and 14 dry bulk carriers, with a total capacity of 3.37 million dwt. The company’s fleet utilization stands close to 100%.
Additionally, G E Shipping has also contracted to sell one Suezmax crude tanker and one Medium Range product tanker, with both sale transactions expected to be completed by Q3 FY26.
The Great Eastern Shipping Company remains India’s largest private sector shipping service provider, maintaining a strong presence in both the domestic and international maritime industry.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.