GREAT EASTERN SHIPPING-Hit by Freight Slump

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Companies

Vol. 31, Issue No. 43, 26 Oct, 1996

GREAT EASTERN SHIPPING-Hit by Freight Slump

Vol. 31, Issue No. 43, 26 Oct, 1996

Companies

EPW Research Foundation GREAT EASTERN SHIPPING Hit by Freight Slump GREAT EASTERN SHIPPING (GESCO), the largest private sector shipping company, has 57 vessels in its fleet comprising 26 bulk carriers, 14 tankers, l10 off shore support vessels, two rigs, two barges, two tugs and one other vessel. The company draws a major part (46.4 per cent) of its revenue from charter hire charges, commodities trading (24.6 per cent), freight and demurrage (11.8 per cent) and property development (7.9 per cent).

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