About The Great Eastern Shipping Company Limited (GE Shipping)

The Great Eastern Shipping Company Limited (GE Shipping), incorporated in 1948, is India’s largest private sector shipping company, headquartered at Ocean House, 134/A, Dr. Annie Besant Road, Worli, Mumbai – 400018. The company provides marine transportation services for crude oil, petroleum products, gas, and dry bulk commodities, maintaining a robust presence in international maritime trade. GE Shipping’s vessels operate across global waters, catering to both Indian and overseas clients, underscoring its reputation as a dependable player in global seaborne logistics.

GE Shipping’s international operations are supported by group entities in major maritime hubs, including Singapore and the U.A.E., enhancing its global footprint. As of the latest reporting period, the company had 11 subsidiaries (names not disclosed in the Annual Report).

In its 77th Annual Report for the year ended March 31, 2025, the company reaffirmed its disciplined capital allocation strategy — selling older ships and investing in younger, more efficient tonnage — to optimise returns and maintain fleet agility. The Chairman highlighted that GE Shipping concluded FY 2024–25 with its strongest-ever balance sheet, marked by the highest cash reserves and lowest net debt in company history, reflecting prudent financial management and resilience.

Business Segments

• Segment: Shipping contributed 81.25% of total turnover in FY 2024–25 (NIC Code 50120).
• Geography: Exports accounted for 68.85% of total turnover, driven by a globally deployed fleet serving both Indian and international markets.

GE Shipping Key Management

• K. M. Sheth – Non-Executive Chairman
• Bharat K. Sheth – Deputy Chairman & Managing Director
• G. Shivakumar – Executive Director & Chief Financial Officer
• Anand Punde – Company Secretary

Latest Updates on The Great Eastern Shipping Company Limited

• New entity incorporation: On May 02, 2024, the company incorporated GESHIPPING (IFSC) Limited, to engage in international financial and business services related to vessel management and other permitted activities under the International Financial Services Centres Authority Act, 2019.
• Strategic portfolio management: The company reiterated its asset renewal strategy of divesting older vessels and acquiring younger ships, aligning with its long-term focus on maintaining an efficient, profitable fleet.
• Technology and operations: GE Shipping continued to modernise digital platforms and vessel IT systems, advancing operational automation, cyber resilience, and business continuity planning.
• Human capital and training: Through the Great Eastern Institute of Maritime Studies (GEIMS), the company strengthened its maritime education and training initiatives, hosted academic and industry events, and earned recognition in maritime sports, including securing the runners-up trophy at the Maritime Soccer League 2024.
• Board and leadership movements:
  • Mr. Tapas Icot ceased to be Executive Director effective November 01, 2024.

Several senior management appointments were made across Internal Audit and Accounts & MIS functions during FY 2024–25.