India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) acquired 2013 built supramax bulk carrier 56K DWT MV Luminous Nova and 2013 built capesize bulk carrier 180K DWT MV True Dream. Furthermore, Great Eastern Shipping (GES) acquired 2006 built 35K-cbm LPG carrier Cambridge. Mumbai-based shipowner and operator Great Eastern Shipping (GES) will not extend fleet expansion following due to steep second-hand ship prices. Unless second-hand ship prices were to re-correct and come down, they are ahead of Great Eastern Shipping’s (GES) price points. In 2020, Great Eastern Shipping (GES) was not able to purchase vessels due to Covid-19 restrictions. Since 2016, India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) acquired 20 ships. Great Eastern Shipping (GES) had given a bid in the privatization of state-owned shipping company Shipping Corp of India (SCI). Great Eastern Shipping’s (GES) offshore vessels are managed by subsidiary Greatship. Currently, Great Eastern Shipping (GES) owns a mixed fleet of 32 tankers, 5 LPG carriers, and 13 bulk carriers. 27-May-2021
India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) acquired 2013 built supramax bulk carrier 56K DWT MV Luminous Nova for around $14 million from Japanese shipowner Aono Kaiun. Mumbai-based shipowner and operator Great Eastern Shipping (GES) is selling 2006 built supramax bulk carrier 52K DWT MV Jag Roopa for around $8 million. In 2014, Indian shipowner and operator Great Eastern Shipping (GES) acquired MV Jag Roopa from Japanese shipowner Kambara Kisen for around $18 million. Previously, Great Eastern Shipping (GES) acquired a 2014 built capesize bulk carrier 180K DWT MV Jag Alaia (ex MV True Dream) for around $23 million. According to Great Eastern Shipping (GES), second-hand bulk carrier prices have risen in better shipping markets. Financial discipline has served Great Eastern Shipping (GES) well and supported the company to come through shipping crises. Currently, Mumbai-based shipowner and operator Great Eastern Shipping (GES) has a mixed fleet of 46 ships. 4-March-2021
Mumbai based shipowner and operator Great Eastern Shipping (GES) controlled 2011 built capesize bulk carrier 179K DWT MV Jag Anand has been anchored off China for almost seven (7) months is eventually steamed to Japan. Great Eastern Shipping (GES) controlled MV Jag Anand has been stranded off Jingtang, China since June 2020. Great Eastern Shipping (GES) controlled MV Jag Anand was seized in the trade dispute between Australia and China. India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) controlled MV Jag Anand is one of 21 bulk carriers that have been stranded by China’s alleged ban on Australian coal imports. MV Jag Anand’s crew members are mentally and physically exhausted due to an unprecedented situation. 8-January-2021
Indian shipowner and operator Great Eastern Shipping is going to issue a $132 billion non-convertible debenture in 2020. Due to the coronavirus recession, Great Eastern Shipping’s bulk carrier business might be affected. However, Great Eastern Shipping has sufficient liquid investments and cash to tackle any financial issues soon. Great Eastern Shipping has reported a net loss of $6.7 million in Q1 2020. Great Eastern Shipping has reported a revenue of $139 million in Q1 2020. India’s biggest private shipowner and operator Great Eastern Shipping has 46 tankers and bulk carriers. Furthermore, Great Eastern Shipping has 23 offshore ships. Great Eastern Shipping’s bulk carriers earned $8,321 per day in Q1 2020. 1-June-2020
India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) has announced plans for a share buyback worth up to INR 1 billion ($14 million). Mumbai-based tanker and bulker shipowner Great Eastern Shipping (GES) will pay not more than INR 306 each for as many as 3.3 million shares. According to Great Eastern Shipping (GES), the maximum acquisition value would equal around 2% of the company. In April 2019, Great Eastern Shipping (GES) was considering a bond issue worth INR 10 billion. The initial intention was to issue non-convertible debentures in a private placement during 2019. 1-June-2019
India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping (GES) is considering a bond issue worth INR 10 billion ($143 million). On 6 May 2019, Great Eastern Shipping’s (GES) Borad of Directors (BOD) will gather to analyze the debt sale. Currently, Great Eastern Shipping (GES) plans to issue non-convertible debentures in a private placement during 2019. Mumbai-based tanker and bulker shipowner Great Eastern Shipping (GES) made the most of increasing markets to report a bigger profit. 22-April-2019
Mumbai based shipowner and operator Great Eastern Shipping (GES)
is firmly against new Indian laws giving domestically built bulk carriers priority for state cargoes. According to Great Eastern Shipping (GES), Hindu Business Line that the right of first refusal (RoFR) policy is of no benefit to shipowners or shipyards because it is a retrospective measure.
New rules states that Indian-built bulk carriers would get priority state-owned entities’ cargoes. According to Great Eastern Shipping (GES), this new rule is not going to improve Indian shipbuilding. The new policy will impair the shipping industry without encouraging the Indian shipbuilding industry. Furthermore, Great Eastern Shipping (GES) has objected to Indian shipowners having to match the lowest freight rate quoted by a foreign shipowner in a tender. 5-March-2019
Mumbai based shipowner and operator Great Eastern Shipping has fortunately raised around $45 million in a non-convertible debenture sale. Great Eastern Shipping has been throwing cash on second-hand ships in recent weeks. In March 2018, Great Eastern Shipping acquired 1996 built 36K cbm LPG carrier. Currently, Great Eastern Shipping has a diversified fleet of 16 dry bulk carriers, 3 LPG carriers, 17 Product Carriers, 12 Crude Oil Carriers. 12-April-2018
India’s biggest private dry bulk and tanker shipowner and operator Great Eastern Shipping sold 2003 built handymax dry bulk carrier 52K DWT MV Jag Rahul (ex MV Philipp Oldendorff). In 2005, Great Eastern Shipping bought MV Jag Rahul (ex MV Philipp Oldendorff) for around $38 million from another Germany’s biggest bulk shipowner Oldendorff for around $38 million. Currently, Great Eastern Shipping has a mixed fleet of 47 ships. 18-January-2018
Mumbai-based tanker and bulker shipowner Great Eastern Shipping reported a net loss of $5 million in Q1 2017. In April 217, Great Eastern Shipping bought an MR product tanker and continues buying second-hand ships. Currently, Mumbai-based tanker and bulker shipowner Great Eastern Shipping has a fleet of 29 tankers and 15 dry bulk carriers. 5-May-2017
Pacific International Lines (PIL) sold 2012 built capesize bulk carrier 180K DWT MV Pacific Capella for around $27 million. Second-hand bulk carrier prices increased last week due to an increase in BDI Baltic Dry Index. Furthermore, Germany based dry bulk shipowner and operator Conti Shipping sold 2012 Chinese built supramax dry bulk carrier 56K DWT MV Aventurin for $12 million for further trading. 2006 built supramax dry bulk carrier 55K DWT MV Sun Acapulco was sold to a Greek shipowner for around $10 million. Japanese Tsuneishi Group sold 2006 built supramax bulk carrier 52K DWT MV Tenshou Maru to Indian shipowner and operator Great Eastern Shipping. 26-March-2017