The Great Eastern Shipping Company Limited’s shares has risen over 3 per cent after the company announced the acquisition of the 2008 built Medium Range (MR) product tanker named “Jag Parth,” with a carrying capacity of approximately 46,197 deadweight tons (dwt). This acquisition was part of a previously contracted agreement in Q2 FY24.
With the addition of “Jag Parth,” the company’s fleet now comprises 42 vessels, including 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and 13 dry bulk carriers, totaling 3.33 million dwt. The vessel’s acquisition has been entirely financed through internal resources and serves the purpose of fleet expansion.
The shares closed 3.48 per cent higher at Rs 827.55 on the BSE.