Great Eastern Becomes India's Biggest Shipowner by Vessel Count

2021-01-02 16:00:33 Marine News

Now, with 69 ships, Great Eastern Shipping Co Ltd has overtaken SCI to become India’s biggest shipowner by fleet size, moving ahead in a market that has been dominated by the state-owned corporation for years now.

SCI owns only 59 ships while Great Easter 69; in deadweight tonnage SCI ahead

In comparison, SCI now owns 59 ships to Great Eastern's 69. But SCI is still ahead when it comes to deadweight tonnage. SCI’s 59 ships add up to a total of 5.3 million dwt, representing 35 percent of India’s total tonnage. Great Eastern, with its fleet of 69, has about 3.9 million dwt (excluding its four oil drilling rigs), accounting for a 25 percent share of the country’s shipping tonnage.

Breaking down the fleets of both the companies, here is a consolidated list:

SCI (59 ships): two container ships, 15 bulkers, one LPG / ammonia carrier, 10 offshore vessels, 13 product tankers, 13 crude tankers and five very large crude carriers (VLCCs).

Great Eastern (69 ships): 11 crude tankers, 17 product tankers, 5 LPG carriers, 13 bulkers, 19 offshore vessels and four drilling rigs.

In second hand market, Great Eastern extremely successful

One area in which Great Eastern has been extremely successful is in the second-hand market. The firm has been actively involved in buying and selling vessels, acquiring nine ships since 2018 and selling seven ships for further trading or scrapping.

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