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Great Eastern Shipping Co. Ltd. — Capital/Financing Update 2024
Jun 7, 2024
59079_rns_2024-06-07_397517c5-8f04-4862-8cc9-7673d04f6dfd.pdf
Capital/Financing Update
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Our Ref.: S/2024/JMT
June 07, 2024
BSE Limited National Stock Exchange of India Limited 1st Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051
BSE Scrip code: 500620 Trading Symbol - GESHIP
Dear Sir,
We wish to inform you that the Company has contracted to buy a Medium Range product tanker of about 49,990 dwt. The 2013 built vessel is expected to join the Company’s fleet by Q2 FY25.
A Press Release to be issued in this connection is enclosed.
You are requested to take note of the above.
Thanking You,
Yours faithfully,
For The Great Eastern Shipping Company Limited
Anand Digitally signed by: Anand Prabhakar Punde Prabhak DN: CN = Anand Prabhakar Punde C ar Punde = IN O = Personal Date: 2024.06.07 09:13:47 +05'30'
Anand Punde
Company Secretary
www.greatship.com
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PRESS RELEASE
G E Shipping contracts to buy a Medium Range Product Tanker
The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a Medium Range product tanker of about 49,990 dwt on June 06, 2024. The 2013 built vessel is expected to join the Company’s fleet by Q2 FY25.
The Company’s current fleet stands at 43 vessels, comprising 29 tankers (6 crude carriers, 19 product tankers, 4 LPG carriers) and 14 dry bulk carriers aggregating 3.41 Mn dwt. The Company’s current capacity utilization is close to 100%.
The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is modernization and expansion of the fleet.
Additionally, we had contracted to sell one MR product tanker in May 2024, which is due for delivery in H1FY25.
Post delivery of both the vessels, we will have 43 vessels aggregating 3.41 Mn dwt.
Place: MUMBAI
Date: June 07, 2024
-----------------------------------------visit us at www.greatship.com---------------------------------------
For further details, please email us at: [email protected]
www.greatship.com