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No deals in shipping, ports for two years

No deals in shipping, ports for two years

Private equity firms have stayed away from investing in shipping, ports and logistics for two years in a row. ´PEs have stopped coming into the sector and there is no easy money for the shipping business,´ G Shivakumar, CFO, Great Eastern Shipping, said in the third quarter earnings conference call.

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GE Shipping fleet to get two more dry bulk carriers

GE Shipping fleet to get two more dry bulk carriers

Great Eastern Shipping on July 25 said it has placed orders with a Japanese company for building two dry bulk carriers. GE Shipping has placed an order for two new Kamsarmax dry bulk carries with Tsuneishi Shipbuilding company, Japan, the country's largest private sector shipping firm said in a statement. These vessels will be built at the Yard's facility in Philippines, it said, without giving financial details

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Net profit of Great Eastern rises on forex gains

Net profit of Great Eastern rises on forex gains

The consolidated net profit of Great Eastern Shipping more than doubled to Rs 192 crore during October-December 2012 from Rs 87.46 crore in the year-ago period. The company cited forex gains and decline in interest costs as major reasons for the rise in net profit