Great Eastern Shipping Company (GE Shipping) has contracted to sell it's 2,000 built Suezmax Crude Carrier Jag Lakshita of about 147,092 dwt. The vessel will be delivered to the new buyer in Q3FY19-20.
Including Jag Lakshita, the company’s current fleet stands at 47 vessels, comprising 34 tankers (12 crude carriers, 17 product tankers, 5 LPG carriers) and 13 dry bulk carriers with an average age of 11.98 years aggregating 3.85 mn dwt, the company said in the press note.
Further, the company said its buyback committee has approved the closure of Rs100cr offer, with the firm utilising almost full size of the issue approved.
The company's board of directors on June 1, 2019 had approved buyback of fully paid-up equity shares of face value Rs10 each from the members of the company payable in cash for an aggregate amount not exceeding Rs100cr, including transaction costs, the company said.
Great Eastern Shipping Company Ltd is currently trading at Rs306, up by Rs6.75 or 2.26% from its previous closing of Rs299.25 on the BSE.
The scrip opened at Rs307.55 and has touched a high and low of Rs308.60 and Rs302 respectively.
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