Great Eastern Shipping in a rough spot for now-I: Recovery will be on way, hopefully soon
Oct 09:
The Great Eastern Shipping Company Ltd is one of the oldest and also the largest private shipping companies in the country 8But it is currently undergoing an unusually rough patch 8Low freight rates juxtaposed against rising costs, coupled with higher borrowings and the declining rupee have pushed the company into a bit of a corner 8IMO 2020 regulations on using low sulphur fuel and ballast water treatment systems will mean incurring additional costs 8A large chunk of its fleet is in the spot market, adding to the volatility. 8Eventually however a recovery will be on way Click on Reports for more