Great Eastern Shipping Contracts Sale of Suezmax Tanker Jag Lok; Stock Gains 3.96%
By Shishta Dutta | Published at: Sep 16, 2025 02:39 PM IST
Mumbai, September 16, 2025: The Great Eastern Shipping Company Ltd (NSE: GESHIP, BSE: 500620) share price rose 3.96% to ₹1,035.10 in Tuesday’s afternoon trade at 12.51 pm IST following the company’s announcement of the sale of its 2005-built Suezmax crude tanker Jag Lok to an unaffiliated third-party buyer.
Founded in 1948, The Great Eastern Shipping Company Ltd is India’s largest private sector shipping company, engaged in transporting crude oil, petroleum products, gas, and dry bulk commodities. The company is listed on NSE and BSE and forms part of the Nifty Smallcap 250 index.
Stock Hits Intra-Day High of ₹1,037.50 on Tanker Sale Announcement
By 12:51 PM IST, GESHIP shares reached an intra-day high of ₹1,037.50, up from the opening price of ₹996.00, reflecting strong market attention to the company’s strategic asset sale. The stock’s movement contributed to a market capitalisation of ₹14,790 crore and highlighted investor focus on operational efficiency and fleet optimisation.
Fleet Overview Shows 38 Vessels with Planned Additions
Including this vessel, GE Shipping’s fleet currently stands at 38 vessels, comprising:
| Vessel Type | Count | Breakdown |
|---|---|---|
| Tankers | 26 | 5 crude, 17 product, 4 LPG carriers |
| Dry Bulk Carriers | 12 | 2 Capesize, 8 Kamsarmax, 2 Supramax |
The fleet aggregates 3.04 million dwt. Additionally, the company has contracted to buy 2 secondhand Kamsarmax dry bulk carriers and 1 Suezmax crude tanker in Q2 FY26, which are expected to join by Q3 FY26.
Price and Key Metrics Indicate Strong Market Performance (12.51 pm IST)
| Metric | Value |
|---|---|
| Current Price | ₹1,035.10 (+39.40 / 3.96%) |
| Previous Close | ₹995.70 |
| Day’s Range | ₹996.00 – ₹1,037.50 |
| VWAP | ₹1,009.85 |
| 52-Week High | ₹1,365.00 (Oct 17, 2024) |
| 52-Week Low | ₹797.50 (Mar 4, 2025) |
| P/E Ratio | 7.27 |
| Market Cap | ₹14,790 crore |
The disposal of Jag Lok, along with intended fleet additions, reflects Great Eastern Shipping’s strategy of managing assets optimally while keeping the fleet ready. The company continues to balance monetisation of aging vessels and selective addition of capacity, reflecting operational acumen and effectiveness.
REF: https://nsearchives.nseindia.com/corporate/GESHIP_15092025162008_prtobefiled.pdf
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