The company had contracted to buy the vessel in Q4 FY21. Including this vessel, G E Shipping's current fleet stands at 47 vessels, comprising 33 tankers (9 crude carriers, 18 product tankers, 6 LPG carrier) and 14 dry bulk carriers with an average age of 11.98 years aggregating 3.72 million dwt.
On a consolidated basis, G E Shipping's net profit stood at Rs 49.01 crore in Q4 FY21 as against a net loss of Rs 50.68 crore in Q4 FY20. Net sales dropped 26.7% to Rs 739.95 crore in Q4 FY21 over Q4 FY20.
G E Shipping has two main businesses: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).
Shares of G E Shipping fell 1.08% to Rs 374 on BSE. The scrip hovered in the range of Rs 370.05 to Rs 384.50 so far.