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EXCLUSIVE-Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
Repeats story with no changes to text
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Repeats story with no changes to text
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
EXCLUSIVE-Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
Recasts, adds details on ships, details from paragraph 7
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
India's Seven Islands, GESCO seek release of ships, sources say
Nayara trims refinery runs on storage constraints, sources say
HPCL diverts vessel from Vadinar to Mangalore, sources say
India is top importer of seaborne Russian crude
Recasts, adds details on ships, details from paragraph 7
By Nidhi Verma and Mohi Narayan
NEW DELHI, July 29 (Reuters) - The owners of three vessels chartered by India's Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner.
Nayara, majority-owned by Russian entities including oil major Rosneft ROSN.MM, runs India's third-biggest refinery and exports refined products and also supplies them domestically.
Fresh European Union sanctions unveiled on July 18 that target Russia and its energy sector over Moscow's war in Ukraine, have been increasingly disruptive to Nayara. Reuters earlier reported it has been forced to reduce operations at its 400,000-barrels-per-day refinery due to fuel storage constraints.
India-based Seven Islands Shipping Ltd SEVI.NS and Great Eastern Shipping Co GESC.NS (GESCO) have asked Nayara to release the three clean products tankers from their contracts, citing concerns over the sanctions, five of the sources told Reuters.
Seven Islands is seeking the release of its medium-range vessels Bourbon and Courage, while GESCO has sought the return of the Jag Pooja, the sources said.
The sources declined to be named as they were not authorised to speak to the media.
Mumbai-based Nayara did not immediately respond to a Reuters request for comment. It has previously criticised the EU sanctions, calling them " unjust and unilateral ".
Seven Islands and GESCO did not immediately respond to requests for comment.
Bourbon is anchored near Vadinar port in western India, where Nayara's refinery is based, while Courage and Jag Pooja are floating off Kochi and Ennore ports, respectively, data from analytics firm Kpler showed.
Another tanker, Sanmar Songbird, chartered by Indian state refiner Hindustan Petroleum Corp HPCL.NS, was scheduled to load gasoline from Nayara on Tuesday, according to three sources and LSEG data. But it has since been diverted to load from Mangalore Refinery and Petrochemicals Ltd MRPL.NS, sources said.
The diversion was due to the sanctions and the lack of available insurance cover for the voyage, they said.
HPCL and Sanmar did not immediately respond to requests for comment.
India has become the biggest importer of Russian seaborne crude since Moscow launched its full-scale invasion of Ukraine in early 2022.
Last week, Reuters reported that a tanker carrying Russian Urals crude was diverted from Nayara's Vadinar port following the EU sanctions announcement, while two other tankers skipped loading refined products there.
Nayara's CEO resigned in the wake of the new sanctions, and the company filed a court case in India against Microsoft MSFT.O after the U.S. software giant suspended services to the firm.
(Reporting by Nidhi Verma and Mohi Narayan in New Delhi; Additional reporting by Trixie Yap in Singapore; Editing by Florence Tan, Tony Munroe, Bernadette Baum and Joe Bavier)
(([email protected]; +91 11 49548031; Reuters Messaging: [email protected]))
Indian shipping stocks defy wider weakness as Mideast tensions spur tanker demand hopes
** Indian shipping stocks rise, outliers in a weak market .BO
** Great Eastern Shipping Co GESC.NS rises 6%, Shipping Corp of India SCI.NS jumps 10%
** Jump on the day sentiment-driven, on fears Israel-Iran conflict may widen, which could disrupt oil supply and drive up tanker demand and rates - Aishvarya Dadheech, founder and chief executive of Fident Asset Management
** Crude prices have soared on the day, last up more than 9%, dragging local refiners and lifting oil producers
** YTD, GESC up over 7%, SCI up more than 11%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Indian shipping stocks rise, outliers in a weak market .BO
** Great Eastern Shipping Co GESC.NS rises 6%, Shipping Corp of India SCI.NS jumps 10%
** Jump on the day sentiment-driven, on fears Israel-Iran conflict may widen, which could disrupt oil supply and drive up tanker demand and rates - Aishvarya Dadheech, founder and chief executive of Fident Asset Management
** Crude prices have soared on the day, last up more than 9%, dragging local refiners and lifting oil producers
** YTD, GESC up over 7%, SCI up more than 11%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Great Eastern Shipping Company Approves Liquidation Of Wholly Owned Subsidiary GESL
March 7 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
BOARD APPROVES LIQUIDATION OF WHOLLY OWNED SUBSIDIARY GESL
Source text: ID:nBSE3Tmy5h
Further company coverage: GESC.NS
(([email protected];;))
March 7 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
BOARD APPROVES LIQUIDATION OF WHOLLY OWNED SUBSIDIARY GESL
Source text: ID:nBSE3Tmy5h
Further company coverage: GESC.NS
(([email protected];;))
Great Eastern Shipping Company To Sell Supramax Dry Bulk Carrier Jag Rishi
Jan 24 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
TO SELL SUPRAMAX DRY BULK CARRIER JAG RISHI
VESSEL DELIVERY TO NEW BUYER BY Q4 FY25
Source text: ID:nBSE1TZtpR
Further company coverage: GESC.NS
(([email protected];;))
Jan 24 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
TO SELL SUPRAMAX DRY BULK CARRIER JAG RISHI
VESSEL DELIVERY TO NEW BUYER BY Q4 FY25
Source text: ID:nBSE1TZtpR
Further company coverage: GESC.NS
(([email protected];;))
Great Eastern Shipping Delivers 2005 Built Medium Range Product Tanker To Buyers
Dec 13 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING - DELIVERED 2005 BUILT MEDIUM RANGE PRODUCT TANKER TO BUYERS
Source text: ID:nNSE7VYhnk
Further company coverage: GESC.NS
(([email protected];))
Dec 13 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING - DELIVERED 2005 BUILT MEDIUM RANGE PRODUCT TANKER TO BUYERS
Source text: ID:nNSE7VYhnk
Further company coverage: GESC.NS
(([email protected];))
Great Eastern Shipping Contracts To Sell Its 2005 Built Medium Range Product Tanker, Jag Padma
Oct 31 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL ITS 2005 BUILT MEDIUM RANGE PRODUCT TANKER, JAG PADMA
Source text: ID:nBSEbYw3R5
Further company coverage: GESC.NS
(([email protected];;))
Oct 31 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL ITS 2005 BUILT MEDIUM RANGE PRODUCT TANKER, JAG PADMA
Source text: ID:nBSEbYw3R5
Further company coverage: GESC.NS
(([email protected];;))
Great Eastern Shipping To Sell Suezmax Crude Tanker Of About 158,344 DWT
Sept 13 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL SUEZMAX CRUDE TANKER OF ABOUT 158,344 DWT
VESSEL WILL BE DELIVERED BY Q3 FY25
Source text for Eikon: ID:nBSE4gQQ2q
Further company coverage: GESC.NS
(Reporting by VijayDattaram Malkar)
(([email protected];))
Sept 13 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL SUEZMAX CRUDE TANKER OF ABOUT 158,344 DWT
VESSEL WILL BE DELIVERED BY Q3 FY25
Source text for Eikon: ID:nBSE4gQQ2q
Further company coverage: GESC.NS
(Reporting by VijayDattaram Malkar)
(([email protected];))
Great Eastern Shipping Took Delivery Of A 2013 Built Medium Range Product Tanker
Aug 16 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
TOOK DELIVERY OF A 2013 BUILT MEDIUM RANGE PRODUCT TANKER
CO HAD CONTRACTED TO BUY VESSEL IN Q1FY25
Further company coverage: GESC.NS
(([email protected];))
Aug 16 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
TOOK DELIVERY OF A 2013 BUILT MEDIUM RANGE PRODUCT TANKER
CO HAD CONTRACTED TO BUY VESSEL IN Q1FY25
Further company coverage: GESC.NS
(([email protected];))
Great Eastern Shipping June-Quarter Consol Net Profit 8.12 Bln Rupees
Aug 1 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
JUNE-QUARTER CONSOL NET PROFIT 8.12 BILLION RUPEES
JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 15.08 BILLION RUPEES
INTERIM DIVIDEND 9 RUPEES PER SHARE
Further company coverage: GESC.NS
(([email protected];))
Aug 1 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
JUNE-QUARTER CONSOL NET PROFIT 8.12 BILLION RUPEES
JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 15.08 BILLION RUPEES
INTERIM DIVIDEND 9 RUPEES PER SHARE
Further company coverage: GESC.NS
(([email protected];))
India's Great Eastern Shipping up on contract to buy vessel
** Shares of Great Eastern Shipping Company GESC.NS rise 2.5% to 1096.7 rupees
** Co signs contract to buy medium range product tanker of about 49,990 dwt to expand, modernise fleet
** Stock up for third straight day; trading above key 50-, 100-, 200- day moving avgs
** More than 814,000 shares traded, 0.6x its 30-day avg
** Stock up 12% YTD, continuing a rally for fourth consecutive year; peers Seamec Limited SEAM.NS and Shipping Corporation of India SCI.NS are up ~2% and ~50%, respectively
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Great Eastern Shipping Company GESC.NS rise 2.5% to 1096.7 rupees
** Co signs contract to buy medium range product tanker of about 49,990 dwt to expand, modernise fleet
** Stock up for third straight day; trading above key 50-, 100-, 200- day moving avgs
** More than 814,000 shares traded, 0.6x its 30-day avg
** Stock up 12% YTD, continuing a rally for fourth consecutive year; peers Seamec Limited SEAM.NS and Shipping Corporation of India SCI.NS are up ~2% and ~50%, respectively
(Reporting by Aleef Jahan in Bengaluru)
Great Eastern Shipping Company Delivered Its 2004 Built Medium Range Product Tanker To Buyers
May 21 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
DELIVERED ITS 2004 BUILT MEDIUM RANGE PRODUCT TANKER TO BUYERS
Source text for Eikon: ID:nBSE2KF2K9
Further company coverage: GESC.NS
(([email protected];))
May 21 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
DELIVERED ITS 2004 BUILT MEDIUM RANGE PRODUCT TANKER TO BUYERS
Source text for Eikon: ID:nBSE2KF2K9
Further company coverage: GESC.NS
(([email protected];))
India's Great Eastern Shipping up on bigger March-qtr profit
** Shares of Great Eastern Shipping GESC.NS rise as much as 4.9% to 1,001 rupees
** GESC reports 25.4% jump in its March-qtr profit on a marginal rise in revenue
** Stock last up 2.6%, rising for the second time in 7 sessions in May so far
(Reporting by Anisha Ajith in Bengaluru)
** Shares of Great Eastern Shipping GESC.NS rise as much as 4.9% to 1,001 rupees
** GESC reports 25.4% jump in its March-qtr profit on a marginal rise in revenue
** Stock last up 2.6%, rising for the second time in 7 sessions in May so far
(Reporting by Anisha Ajith in Bengaluru)
Great Eastern Shipping Takes Delivery Of A 2013 Built Medium Range Product Tanker
May 8 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
G E SHIPPING TAKES DELIVERY OF 2013 BUILT MEDIUM RANGE PRODUCT TANKER JAG PRACHI
Source text for Eikon: ID:nBSE35BcyF
Further company coverage: GESC.NS
(([email protected];))
May 8 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
G E SHIPPING TAKES DELIVERY OF 2013 BUILT MEDIUM RANGE PRODUCT TANKER JAG PRACHI
Source text for Eikon: ID:nBSE35BcyF
Further company coverage: GESC.NS
(([email protected];))
India's Great Eastern Shipping at record high
** Shares of Great Eastern Shipping Co GESC.NS jump 7.5% to a record 1,097 rupees
** Reuters could not immediately ascertain the reason for the move
** Over 1.5 mln shares traded, 4x the 30-day avg and stock's second-busiest session in 2024
** Stock last up 5.2%, taking its YTD gains to ~10% YTD
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Great Eastern Shipping Co GESC.NS jump 7.5% to a record 1,097 rupees
** Reuters could not immediately ascertain the reason for the move
** Over 1.5 mln shares traded, 4x the 30-day avg and stock's second-busiest session in 2024
** Stock last up 5.2%, taking its YTD gains to ~10% YTD
(Reporting by Kashish Tandon in Bengaluru)
Great Eastern Shipping Has Contracted To Buy A Medium Range Product Tanker
March 28 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY - CO HAS CONTRACTED TO BUY A MEDIUM RANGE PRODUCT TANKER OF ABOUT 51,486 DWT
GREAT EASTERN SHIPPING COMPANY - VESSEL IS EXPECTED TO JOIN COMPANY'S FLEET BY Q1 FY25
Source text for Eikon: ID:nBSE6P8fK5
Further company coverage: GESC.NS
(([email protected];;))
March 28 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY - CO HAS CONTRACTED TO BUY A MEDIUM RANGE PRODUCT TANKER OF ABOUT 51,486 DWT
GREAT EASTERN SHIPPING COMPANY - VESSEL IS EXPECTED TO JOIN COMPANY'S FLEET BY Q1 FY25
Source text for Eikon: ID:nBSE6P8fK5
Further company coverage: GESC.NS
(([email protected];;))
Great Eastern Shipping Company Has Contracted To Buy A Medium Range Product Tanker
Feb 14 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CO HAS CONTRACTED TO BUY A MEDIUM RANGE PRODUCT TANKER OF ABOUT 49,999 DWT
TANKER IS EXPECTED TO JOIN CO'S FLEET BY Q1 FY25
Source text for Eikon: ID:nNSEbd1kbw
Further company coverage: GESC.NS
(([email protected];))
Feb 14 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CO HAS CONTRACTED TO BUY A MEDIUM RANGE PRODUCT TANKER OF ABOUT 49,999 DWT
TANKER IS EXPECTED TO JOIN CO'S FLEET BY Q1 FY25
Source text for Eikon: ID:nNSEbd1kbw
Further company coverage: GESC.NS
(([email protected];))
Indian shipping cos gain as vessels reroute after Red Sea attacks
** Shares of Great Eastern Shipping GESC.NS, Essar Shipping ESPL.NS, Shipping Corp SCI.NS rise between 7%-3%; SCI and GESC hit record highs
** Companies have started diverting ships away from Red Sea due to attacks from Yemen's Iran-backed Houthi militants
** French shipping group CMA CGM, Oil major BP BP.L, Norwegian oil and gas firm Equinor are among cos who paused shipping via Red Sea
** Expect an uptick in demand for cargoes and containers in India as shippers strive to mitigate impact of this situation - Christian Roeloffs, CEO of Container xChange
** India exports petroleum products, chemicals, pharmaceuticals, engineering goods and textiles and apparels through the Red Sea - Roeloffs
** Port operators JSW Infrastructure JSWN.NS and Adani Ports APSE.NS were down 2.2% and 1.2%, respectively
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Great Eastern Shipping GESC.NS, Essar Shipping ESPL.NS, Shipping Corp SCI.NS rise between 7%-3%; SCI and GESC hit record highs
** Companies have started diverting ships away from Red Sea due to attacks from Yemen's Iran-backed Houthi militants
** French shipping group CMA CGM, Oil major BP BP.L, Norwegian oil and gas firm Equinor are among cos who paused shipping via Red Sea
** Expect an uptick in demand for cargoes and containers in India as shippers strive to mitigate impact of this situation - Christian Roeloffs, CEO of Container xChange
** India exports petroleum products, chemicals, pharmaceuticals, engineering goods and textiles and apparels through the Red Sea - Roeloffs
** Port operators JSW Infrastructure JSWN.NS and Adani Ports APSE.NS were down 2.2% and 1.2%, respectively
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's Great Eastern Shipping hits record high
** Shares of Great Eastern Shipping Company GESC.NS rise as much as 4.1% to hit a record high at 936.40 rupees
** Share prices above 50-day, 100-day and 200-day simple moving averages since Nov 30
** More than 1.4 mln shares change hands, 3.3x of 30-day avg
** This is the fifth time this quarter that more than 1 mln GESC shares have traded in a single day
** GESC stock up 40.4% YTD
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of Great Eastern Shipping Company GESC.NS rise as much as 4.1% to hit a record high at 936.40 rupees
** Share prices above 50-day, 100-day and 200-day simple moving averages since Nov 30
** More than 1.4 mln shares change hands, 3.3x of 30-day avg
** This is the fifth time this quarter that more than 1 mln GESC shares have traded in a single day
** GESC stock up 40.4% YTD
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
Great Eastern Shipping Company Contracted To Sell A Vessel To An Unaffiliated Third Party
Dec 15 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL TANKER, JAG PRABHA TO AN UNAFFILIATED THIRD PARTY
VESSEL WILL BE DELIVERED TO NEW BUYER BY Q4 FY24
Further company coverage: GESC.NS
(([email protected];))
Dec 15 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL TANKER, JAG PRABHA TO AN UNAFFILIATED THIRD PARTY
VESSEL WILL BE DELIVERED TO NEW BUYER BY Q4 FY24
Further company coverage: GESC.NS
(([email protected];))
Great Eastern Shipping Takes Delivery Of Kamsarmax Dry Bulk Carrier "Jag Amaira"
Dec 11 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
G E SHIPPING TAKES DELIVERY OF A 2014 BUILT KAMSARMAX DRY BULK CARRIER "JAG AMAIRA"
CURRENT FLEET STANDS AT 43 VESSELS
VESSEL IS FINANCED ENTIRELY FROM INTERNAL ACCRUALS
Source text for Eikon: ID:nBSE1DLhBf
Further company coverage: GESC.NS
(([email protected];))
Dec 11 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
G E SHIPPING TAKES DELIVERY OF A 2014 BUILT KAMSARMAX DRY BULK CARRIER "JAG AMAIRA"
CURRENT FLEET STANDS AT 43 VESSELS
VESSEL IS FINANCED ENTIRELY FROM INTERNAL ACCRUALS
Source text for Eikon: ID:nBSE1DLhBf
Further company coverage: GESC.NS
(([email protected];))
India's Great Eastern Shipping down on Q2 profit fall
** Shares of Great Eastern Shipping GESC.NS fall as much as 4.6% to 790 rupees
** Co reported on Friday its consolidated net profit fell 22.6%, revenue from operations down 15% Y/Y
** GESC hurt by ~17% fall in revenue from its core shipping segment
** Stock on track for third consecutive session of loss, if trends stand
** Stock currently down 3%, trimming YTD gains to 21%
($1 = 83.2575 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
** Shares of Great Eastern Shipping GESC.NS fall as much as 4.6% to 790 rupees
** Co reported on Friday its consolidated net profit fell 22.6%, revenue from operations down 15% Y/Y
** GESC hurt by ~17% fall in revenue from its core shipping segment
** Stock on track for third consecutive session of loss, if trends stand
** Stock currently down 3%, trimming YTD gains to 21%
($1 = 83.2575 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
(([email protected] ; ( +91 8078332441))
Great Eastern Shipping Company Contracted To Buy A Kamsarmax Dry Bulk Carrier
Oct 27 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CO CONTRACTED TO BUY A KAMSARMAX DRY BULK CARRIER OF ABOUT 80,919 DWT
THE 2014 BUILT VESSEL IS EXPECTED TO JOIN CO’S FLEET IN Q3 FY24
(([email protected];))
Oct 27 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CO CONTRACTED TO BUY A KAMSARMAX DRY BULK CARRIER OF ABOUT 80,919 DWT
THE 2014 BUILT VESSEL IS EXPECTED TO JOIN CO’S FLEET IN Q3 FY24
(([email protected];))
Great Eastern Shipping Company Ltd- Delivered Its 2006 Built Supramax Dry Bulk Carrier
Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD- DELIVERED ITS 2006 BUILT SUPRAMAX DRY BULK CARRIER
Source text for Eikon: ID:nBSE6hl703
Further company coverage: GESC.NS
Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD- DELIVERED ITS 2006 BUILT SUPRAMAX DRY BULK CARRIER
Source text for Eikon: ID:nBSE6hl703
Further company coverage: GESC.NS
Great Eastern Shipping Company Contracted To Sell Supramax Dry Bulk Carrier, Jag Rohan
Sept 27 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL ITS 2006 BUILT SUPRAMAX DRY BULK CARRIER, JAG ROHAN
VESSEL WILL BE DELIVERED TO NEW BUYER BY Q3 FY24
Further company coverage: GESC.NS
(([email protected];))
Sept 27 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
CONTRACTED TO SELL ITS 2006 BUILT SUPRAMAX DRY BULK CARRIER, JAG ROHAN
VESSEL WILL BE DELIVERED TO NEW BUYER BY Q3 FY24
Further company coverage: GESC.NS
(([email protected];))
Great Eastern Shipping Company June-Quarter Consol Net Profit Rises
Aug 3 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD - INTERIM DIVIDEND OF 12.90 RUPEES PER SHARE
INDIA'S GREAT EASTERN SHIPPING COMPANY JUNE-QUARTER CONSOL NET PROFIT 5.76 BILLION RUPEES VERSUS PROFIT 4.57 BILLION RUPEES
GREAT EASTERN SHIPPING COMPANY JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 12.84 BILLION RUPEES VERSUS 13.66 BILLION RUPEES
Source text for Eikon: ID:nBSE45r5t1
Further company coverage: GESC.NS
(([email protected];))
Aug 3 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD - INTERIM DIVIDEND OF 12.90 RUPEES PER SHARE
INDIA'S GREAT EASTERN SHIPPING COMPANY JUNE-QUARTER CONSOL NET PROFIT 5.76 BILLION RUPEES VERSUS PROFIT 4.57 BILLION RUPEES
GREAT EASTERN SHIPPING COMPANY JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 12.84 BILLION RUPEES VERSUS 13.66 BILLION RUPEES
Source text for Eikon: ID:nBSE45r5t1
Further company coverage: GESC.NS
(([email protected];))
India's Great Eastern Shipping hits all-time high
** Shares of Great Eastern Shipping Company GESC.NS rise as much as 7.5% to 820 rupees, their record high
** Stock's largest intraday pct climb since May 15
** Stock on track to rise in second straight session, if trends hold
** Over 1.2 mln shares change hands as of 12:26 p.m. IST, 3.4X the 30-day moving average and stock's busiest day since June 15
** Stock up 13.8% YTD as of last close
(Reporting by Varun Vyas in Bengaluru)
** Shares of Great Eastern Shipping Company GESC.NS rise as much as 7.5% to 820 rupees, their record high
** Stock's largest intraday pct climb since May 15
** Stock on track to rise in second straight session, if trends hold
** Over 1.2 mln shares change hands as of 12:26 p.m. IST, 3.4X the 30-day moving average and stock's busiest day since June 15
** Stock up 13.8% YTD as of last close
(Reporting by Varun Vyas in Bengaluru)
Great Eastern Shipping Company Ltd- Delivered Its 2004 Built Aframax Crude Carrier
Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD- DELIVERED ITS 2004 BUILT AFRAMAX CRUDE CARRIER
GREAT EASTERN SHIPPING COMPANY LTD- VESSEL WAS CONTRACTED FOR SALE IN APRIL 2023
Source text for Eikon: ID:nBSE3jhGXB
Further company coverage: GESC.NS
Great Eastern Shipping Company Ltd GESC.NS:
GREAT EASTERN SHIPPING COMPANY LTD- DELIVERED ITS 2004 BUILT AFRAMAX CRUDE CARRIER
GREAT EASTERN SHIPPING COMPANY LTD- VESSEL WAS CONTRACTED FOR SALE IN APRIL 2023
Source text for Eikon: ID:nBSE3jhGXB
Further company coverage: GESC.NS
India's Great Eastern Shipping up 8% on four-fold jump in Q4 profit
** Shares of Great Eastern Shipping Company Ltd GESC.NS rise as much as 8.28% to 732.80 rupees, a five-month high
** Shipping service provider reports nearly four-fold jump in Q4 consolidated net profit to 7.22 bln rupees in March quarter compared to 1.89 bln rupees a year ago nFWN37910Z
** Revenue from operations up 59% Y/Y to 14.56 bln rupees
** GESC also approves fourth interim dividend of 9 rupees per share for FY2023
** Trading volume is 1.73 mln shares as of 11:08 a.m. IST , more than seven times the 30-day avg - Refinitiv data
($1 = 81.7800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
** Shares of Great Eastern Shipping Company Ltd GESC.NS rise as much as 8.28% to 732.80 rupees, a five-month high
** Shipping service provider reports nearly four-fold jump in Q4 consolidated net profit to 7.22 bln rupees in March quarter compared to 1.89 bln rupees a year ago nFWN37910Z
** Revenue from operations up 59% Y/Y to 14.56 bln rupees
** GESC also approves fourth interim dividend of 9 rupees per share for FY2023
** Trading volume is 1.73 mln shares as of 11:08 a.m. IST , more than seven times the 30-day avg - Refinitiv data
($1 = 81.7800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463))
India's Great Eastern Shipping Company March-Quarter Consol Net Profit Jumps
May 12 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
MARCH-QUARTER CONSOL NET PROFIT 7.22 BILLION RUPEES VERSUS PROFIT 1.89 BILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 14.56 BILLION RUPEES VERSUS 9.16 BILLION RUPEES
4TH INTERIM DIVIDEND OF 9 RUPEES PER SHARE
Source text for Eikon: ID:nBSESc00x
Further company coverage: GESC.NS
(([email protected];;))
May 12 (Reuters) - Great Eastern Shipping Company Ltd GESC.NS:
MARCH-QUARTER CONSOL NET PROFIT 7.22 BILLION RUPEES VERSUS PROFIT 1.89 BILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 14.56 BILLION RUPEES VERSUS 9.16 BILLION RUPEES
4TH INTERIM DIVIDEND OF 9 RUPEES PER SHARE
Source text for Eikon: ID:nBSESc00x
Further company coverage: GESC.NS
(([email protected];;))
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What does GE Shipping do?
Great Eastern Shipping Company Limited is India's largest private sector shipping service provider, offering dry bulk carriers and tankers to meet global market needs with certifications to international standards.
Who are the competitors of GE Shipping?
GE Shipping major competitors are Shipping Corpn., Transworld Shipping, Blue Dart Express, Transport Corp., Gujarat Pipavav Port, TVS Supply Chain Sol, VRL Logistics. Market Cap of GE Shipping is ₹14,041 Crs. While the median market cap of its peers are ₹7,537 Crs.
Is GE Shipping financially stable compared to its competitors?
GE Shipping seems to be less financially stable compared to its competitors. Altman Z score of GE Shipping is 4.58 and is ranked 4 out of its 8 competitors.
Does GE Shipping pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. GE Shipping latest dividend payout ratio is 18.09% and 3yr average dividend payout ratio is 17.96%
How has GE Shipping allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is GE Shipping balance sheet?
Balance sheet of GE Shipping is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of GE Shipping improving?
No, profit is decreasing. The profit of GE Shipping is ₹2,037 Crs for TTM, ₹2,344 Crs for Mar 2025 and ₹2,614 Crs for Mar 2024.
Is the debt of GE Shipping increasing or decreasing?
The net debt of GE Shipping is decreasing. Latest net debt of GE Shipping is -₹9,297.62 Crs as of Mar-25. This is less than Mar-24 when it was -₹6,750.51 Crs.
Is GE Shipping stock expensive?
GE Shipping is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of GE Shipping is 6.89, while 3 year average PE is 6.53. Also latest EV/EBITDA of GE Shipping is 4.37 while 3yr average is 4.45.
Has the share price of GE Shipping grown faster than its competition?
GE Shipping has given lower returns compared to its competitors. GE Shipping has grown at ~-28.95% over the last 1yrs while peers have grown at a median rate of -22.26%
Is the promoter bullish about GE Shipping?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in GE Shipping is 30.07% and last quarter promoter holding is 30.07%.
Are mutual funds buying/selling GE Shipping?
The mutual fund holding of GE Shipping is increasing. The current mutual fund holding in GE Shipping is 14.32% while previous quarter holding is 14.19%.