Great Eastern Shipping delivers Supramax vessel Jag Rishi

The Great Eastern Shipping Company Limited (G E Shipping) recently announced the successful delivery of its 2011-built Supramax dry bulk carrier, Jag Rishi, to its buyers. This strategic move marks a significant development in the company’s fleet management. Additionally, G E Shipping also disclosed its latest financial results for the third quarter of FY2024, showcasing both growth and challenges in their operations.

Great Eastern Shipping Q3 Results:

In the latest financial report for the third quarter of FY2024, Great Eastern Shipping revealed a 10.2% increase in sales, reaching ₹1,354.40 crore. Despite the revenue growth, the net profit experienced a slight decline of 3.21%, settling at ₹575.57 crore compared to ₹594.66 crore in the same period of FY2023. This fluctuation in profit highlights the company’s ongoing efforts to navigate through the dynamic shipping industry landscape.

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Following the delivery of the Supramax carrier, Jag Rishi, G E Shipping’s fleet now consists of 38 vessels. This fleet includes 26 tankers, comprising 5 crude carriers, 17 product carriers, and 4 LPG carriers, along with 12 dry bulk carriers consisting of 2 Capesize, 8 Kamsarmax, and 2 Supramax vessels. The total capacity of the company’s fleet stands at 3.04 million DWT, showcasing their commitment to maintaining a diverse and robust fleet to cater to various shipping needs.