Great Eastern Shipping Company Ltd
NSE: GESHIP BSE: 500620
₹1496.60
-22 (1.45%)
Sun, 25 Oct 2026, 11:53 am
Market Cap (in Cr)21380.81
PE Ratio5.71
Dividend2.82
Transportation
Marine Shipping
24.5KGreat Eastern Shipping Company Ltd Company History
1948
- Company incorporated in Mumbai, promoted by A H Bhiwandiwalla & Co. (Mumbai) Pvt. Ltd.
- Main activities: own, purchase, charter ships, boats, sea-going vessels.
- Operates coastal cargo services, charters mineral oil products, overseas liner service between west coast Canada/USA and India, acts as agent for foreign shipping companies.
1984
- Suvibha Investment Co. Ltd. and Great Eastern Shipping Co. Ltd. became subsidiaries.
- Issued 12,77,500 13.5% secured redeemable convertible bonds as rights.
1985
- London branch converted into wholly owned subsidiary 'The Great Eastern Shipping Company (London) Limited.'
1986
- Issued 1,87,78,893 rights equity shares at par; allotted additional shares including to employees and associates.
- Allotted 11,000 shares on conversion of debentures.
- Allotted 30,00,000 shares to IFC Washington at premium.
1987
- Allotted 6,92,620 equity shares on conversion of 13.5% bonds.
- Allotted 30,00,000 equity shares to IFC Washington at premium.
1988
- Acquired four ships renamed 'Jag Vijay', 'Jag Rani', 'Jag Rahat', 'Jag Kala'.
1989
- Acquired three bulk carriers renamed 'Jag Ratna', 'Jag Vikas', 'Jag Ravi'; renamed another 'Jag Rashmi'.
- Signed MoAs to purchase five Offshore Supply Vessels.
1990
- Suvibha Investment Co. Ltd. changed name to Prime Securities Ltd.
- Switched to voyage charter operations.
- Four secondhand OSVs delivered.
- Acquired 5 ships including one bulk carrier and four OSVs; renamed two as 'Malaviya Five' and 'Malaviya Six'.
- IFC converted loan into 3.25 million equity shares at premium.
- Allotted 32,50,000 equity shares to IFC Washington.
1991
- Profits aided by Rupee devaluations.
- Embarked on replacement-cum-modernisation programme.
- Arranging US $60 million loan with IFC Washington.
- Entered property business.
- Issued bonds worth Rs 300m through private placement.
- Acquired 1984 built handymax bulk carrier and 1982 built product carrier.
- Merged with GAL Offshore Services Ltd.
- Issued 142,63,074 bonus shares in 1:5 proportion.
1992
- Real estate division developing 500,000 sq. ft. properties.
- Acquired 5 ships under self-financing scheme.
- Offered 85,578,445 rights equity shares at par; all taken up.
- Offered 42,78,922 equity shares to employees; 241,750 taken up.
1993
- Proposed Euro Dollar Issue of up to US $100 million.
- Merged with A.H. Bhiwandiwalla & Co. Ltd. and its subsidiaries; allotted 36,75,974 shares.
- ICICI allotted 20,80,000 equity shares at premium of Rs 30.
1994
- Trading division suffered setback due to government policy change on sugar.
- Offered 7,08,63,245 rights equity shares at par; 7,02,24,665 taken up.
- Issued 6,273,500 GDRs representing 31,367,500 equity shares.
- Proposed merger with GAL Offshore Services Ltd.
1995
- Identified charter opportunities with multinational corporations.
- Placed order for 4 mini bulk carriers.
- Allotted 84,81,615 equity shares to shareholders of GAL pursuant to merger.
1996
- Issued 18,263 forfeited shares.
1997
- Entered contract for 2 Aframax tankers from Samsung Heavy Industries, Korea.
- Issued 2,790 equity shares kept in abeyance.
- Offshore division awarded ISO-9002 certificate by Det Norske Veritas.
- Signed agreements with NSDL for dematerialisation.
- Setting up joint venture with Singapore Technologies Construction Pte Ltd.
1998
- Joined Shipping Corporation of India and Varun Shipping to form pool for LPG transport.
- Announced plan to enter LNG trade.
- Issued 39,286 equity shares kept in abeyance.
1999
- Singapore-based SembCorp Construction may pick up stake in demerged property business.
- Issued bonds worth Rs 300m through private placement.
2000
- Gesco Corporation, a subsidiary, to get listed on major stock exchanges.
- Purchased 291,015 equity shares under buyback scheme.
2001
- Purchased equity shares under buyback scheme including 15,52,297 and 1,18,449 shares.
- Launched issue of secured non-convertible debentures worth Rs 90 crore.
2002
- Purchased 235,825 shares under buyback scheme.
- Pre-paid outstanding loans of $3.468 million to ICICI.
- Entered joint venture agreement with Qatar General Petroleum Corporation, U B Air Pvt Ltd, and United Helicharters Pvt Ltd.
2003
- Withdrew from bidding for Shipping Corporation of India.
- Placed order for 45,500 mt new building product tanker with Hanjin Heavy Industries.
- Inducted HDFC MD Keki Mistry and AFL Ltd CMD Cyrus Guzder on board.
- Took delivery of 66,183 dwt Panamax product carrier 'Jag Arpan' from Hyundai Heavy Industries.
- Entered new building contract for 159,000 DWT Suezmax crude carrier with Hyundai Heavy Industries.
- Took delivery of Aframax crude carrier 'Jag Lata' from Hyundai Samho Heavy Industries.
- Took delivery of MR Product tanker 'Jag Pankhi' from Hanjin Heavy Industries.
- Entered ship building contract with Aker Aukra for Platform Supply Vessel.
- Along with Mercator Lines and Shipping Corporation of India, bagged lighterage contract from Indian Oil Corporation.
- Signed contract for 107,592 dwt Aframax crude carrier.
- Signed contract to acquire 152,485 dwt Suezmax crude carrier built in 1989.
2004
- Signed contract to acquire 1983 built geared Handymax Dry Bulk Carrier of 37,092 dwt.
- Sold 1998 built mini bulk carrier 'GE 4'.
- Contracted two 80T Bollard Pull Anchor Handling Tug Supply Vessels from Bharati Shipyard.
- Inked deal to build 2 new carriers.
2005
- Won crude supply order for MRPL.
- Acquired 26-pc stake in USL.
- Sold dry bulk carrier 'Jag Radha'.
2006
- Greatship (India) Ltd signed contract for two new PSVs from Aker Yard, Norway.
- Signed contract to sell 1996 build MR product tanker.
2007
- Signed contract to sell single hull VLCC 'Ardeshir H Bhiwandiwalla'.
- Placed order for 2 new building Supramax Dry Bulk Carriers.
- Acquired modern Supramax to augment Dry Bulk fleet.
2008
- Greatship (India) Limited and DOF Subsea ASA announced joint venture.
2009
- Greatship subsidiary took delivery of 80T Anchor Handling Tug cum Supply Vessel (AHTSV).
2010
- Greatship subsidiary took delivery of Multipurpose Platform Supply and Support Vessel (MPSSV).
- Greatship subsidiary ordered two Construction Support Vessels (Platform/Rov Support Vessels).
2011
- Took delivery of new building Kamsarmax Dry Bulk Carrier.
- Greatship subsidiary took delivery of 350 feet jack up rig ‘Greatdrill Chetna’.
2012
- Greatship subsidiary took delivery of one Anchor Handling Tug cum Supply Vessel (AHTSV).
2013
- Recommended final dividend of Rs 4.50 per equity share.
2014
- Recommended final dividend of Rs 5 per equity share.
- Declared and paid interim dividend of Rs 4 per equity share.
2015
- Signed contract to buy Medium Range Product Tanker of about 48,000 dwt.
2016
- Inked pact to buy Suezmax crude carrier.
2017
- Board approved merger of Greatship Global Holdings Ltd., Mauritius with Greatship (India) Limited.
2018
- Entered into agreement with Adfactors PR Private Limited for public relations services.
2020
- Signed contract to buy secondhand LR2 Product Carrier of about 105,258 dwt.
2024
- Great Eastern Shipping enhances efficiency and sustainability with StormGeo implementation.
