Great Eastern Shipping Takes Delivery of Ultramax Dry Bulk Carrier; Shares Up 5%

MT Newswires Live

01/28

The Great Eastern Shipping Company (NSE:GESHIP, BOM:500620) has taken delivery of its ultramax dry bulk carrier named "Jag Riddhi" of about 63,480 deadweight tonnage (dwt), according to a Wednesday filing to the Indian stock exchanges.

The carrier, built in Japan in 2019, was contracted to be bought by the company in the December 2025 quarter.

With this, the company's current owned fleet stands at 40 vessels, including 26 tankers and 14 dry bulk carriers aggregating 3.20 million dwt.

The company has also contracted to buy a second-hand medium-range tanker and sell a very large gas carrier named "Jag Vishnu". These transactions are expected to be completed in the March quarter.

The company's shares were up over 5% in recent trade.

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