Great Eastern Shipping Co.

What Great Eastern Shipping Co. does

The Great Eastern Shipping Company Limited (GES), founded in 1948 and headquartered in Mumbai, is India's largest publicly listed shipping company, operating a diversified fleet of 40 vessels aggregating 3.24 million DWT across crude oil carriers (Suezmax, Aframax), product carriers (LR1, LR2, MR), LPG carriers (VLGC, MGC), and dry bulk carriers (Capesize, Kamsarmax, Ultramax, Supramax). For FY26 (ended March 2026), the company reported revenue of ₹5,409.09 crore and net profit of ₹2,942.52 crore, with capacity utilization near 100% and a net cash balance of approximately ₹5,438 crore. Operations are supported by wholly-owned chartering subsidiaries in Singapore, Sharjah (UAE), and London, plus a new GIFT City IFSC entity incorporated May 2024.

Revenue is generated through time-charter and spot-market arrangements with international oil companies, national oil companies, governments, and energy traders, with charter pricing driven by global tanker and dry bulk freight rates (VLCC rates reached $165,162/day in Q4 FY26 vs $40,144 a year earlier). A second business segment — offshore oilfield services — is operated through subsidiary Greatship (India) Limited and provides anchor handling, supply, platform support, and exploration support vessels to offshore E&P operators. The company has integrated digital fleet operations through the Smart Ship Hub platform (real-time condition monitoring, predictive diagnostics, fuel optimization) and StormGeo weather routing.

The company is publicly listed on BSE (ticker: GESCO, 500404) and NSE, holds ISO 9001/14001/45001 certifications from DNV.GL, and carries CRISIL AAA and CARE AAA credit ratings. In FY26, FII holding rose from 25.44% to 28.44% and the company declared its highest-ever annual dividend of ₹35.1 per share, reflecting both the strong freight rate cycle and disciplined capital allocation including active vessel sale-and-purchase optimization.

Name

Great Eastern Shipping Co.

Legal name

The Great Eastern Shipping Company Limited

Website

https://greatship.com

Company type

Public

Founded year

1948

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The Great Eastern Shipping Company Limited, founded in 1948 in Mumbai, is India's largest publicly listed shipping company, transporting crude oil, petroleum products, LPG, and dry bulk commodities via 40 vessels (3.24 million DWT) and providing offshore oilfield services through its Greatship (India) subsidiary to international oil majors, governments, and energy traders.

Ownership category

akta.pro rank

Product category

Maritime Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Deep Sea, Coastal, and Great Lakes Water Transportation (48311)

SIC

Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)

akta.pro primary industry

Liquid Bulk / Crude & Product Tanker Operators (VLCC/Suezmax/Aframax/MR) (TLADABAD)

akta.pro secondary industries

Dry Bulk Ocean Shipping (Capesize/Panamax/Handysize) (TLADAKAA), Crude Oil Tanker Shipping (EUALADAG)

Keywords

• Maritime shipping services
• Crude oil tankers
• Dry bulk carriers
• LPG gas carriers
• Offshore oilfield services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure

Revenue model

1. Shipping Charter Services: Transportation of crude oil, petroleum products, gas, and dry bulk commodities through owned fleet operating under time charter and spot market arrangements. Revenue driven by freight rates, vessel utilization near 100%, and fleet size of 40 vessels.
2. Offshore Services: Offshore oilfield services provided through subsidiary Greatship (India) Limited, including vessel chartering for offshore exploration and production activities.
3. Vessel Sale and Purchase: Fleet optimization through strategic acquisition and disposal of vessels, with transactions financed from internal accruals.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

The Great Eastern Shipping Company Limited is India's largest private-sector shipping company, transporting crude oil, petroleum products, and liquefied petroleum gas (LPG) via tankers and dry bulk commodities via bulk carriers. It also provides offshore oilfield services to upstream energy clients through its subsidiary Greatship (India) Limited, operating a fleet of approximately 40 vessels aggregating around 3.24 million DWT.

Product overview

Great Eastern Shipping Company operates as India's largest shipping and oilfield services provider with two main business segments: Shipping and Offshore. The Shipping business transports crude oil (via Suezmax and Aframax crude oil carriers), petroleum products (via Long Range and Medium Range product carriers), gas (via VLGC and MGC LPG carriers), and dry bulk commodities (via Capesize, Kamsarmax, Ultramax, and Supramax bulk carriers). The Offshore business, operated through subsidiary Greatship (India) Limited, provides offshore exploration and production services to oil companies. The company maintains a fleet of approximately 40 vessels aggregating 3.24 million DWT with near 100% capacity utilization.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Tanker Shipping Transportation of crude oil via tanker vessels for global energy companies, oil traders, and national oil companies.
• Product Tanker Shipping Transportation of refined petroleum products (gasoline, diesel, jet fuel, etc.) via product tanker vessels for energy companies and commodity traders.
• LPG Carrier Shipping Transportation of liquefied petroleum gas (LPG) via specialized gas carrier vessels for energy and petrochemical customers.
• Dry Bulk Shipping Transportation of dry bulk commodities (iron ore, coal, grain, etc.) via bulk carrier vessels for mining, steel, and commodities customers.
• Offshore Oilfield Services Offshore oilfield support services (platform supply vessels, anchor handling tugs, etc.) provided through subsidiary Greatship (India) Limited for upstream oil & gas operators.

Quantifiable outcome

• Near 100% capacity utilization across owned fleet
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Greatship (Singapore) Pte. Ltd.coreOthersWholly-owned subsidiary incorporated in Singapore for regional operations and chartering activities
• The Great Eastern Chartering LLC (FZC)coreOthersWholly-owned subsidiary in Sharjah, UAE for chartering operations in the Middle East region
• The Great Eastern Chartering (Singapore) Pte. Ltd.coreOthersWholly-owned subsidiary of The Great Eastern Chartering LLC (FZC) for Singapore chartering operations
• Greatship (India) LimitedcoreOthersSubsidiary providing offshore oilfield services including anchor handling, supply, and platform support vessels for oil exploration and production companies
• Greatship Global Offshore Services Pte. Ltd.minorOthersWholly-owned subsidiary of Greatship (India) Limited for offshore services operations
• Greatship Global Energy Services Pte. Ltd.minorOthersWholly-owned subsidiary of Greatship (India) Limited for energy services
• Greatship (UK) LimitedminorOthersWholly-owned subsidiary of Greatship (India) Limited for UK and European operations
• Great Eastern FoundationminorOthersCSR arm (formerly Great Eastern CSR Foundation) managing social initiatives in education, health, and livelihoods through partnerships with NGOs
• Great Eastern Services LimitedminorOthersSubsidiary under voluntary liquidation
• GESHIPPING (IFSC) LimitedminorOthersWholly-owned subsidiary incorporated May 2, 2024, located in GIFT City, Gujarat for IFSC operations
• Smart Ship HubcoreTechnology or IntegrationDigital platform partnership for fleet-wide deployment enabling real-time condition monitoring, predictive diagnostics, main engine performance monitoring, diesel generator management, fuel optimization, hull and propeller efficiency tracking with automated alerts and predictive analytics

Scale indicators9 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Dorian LPG: Pure-play VLGC LPG carrier operator; directly comparable to GESCO's VLGC/MGC gas carrier segment in vessel types, customer base (LPG traders and petrochemical companies), and LPG shipping market exposure.
• Shipping Corporation of India: India's other large publicly listed shipping company, operating tankers, bulkers, and container vessels with similar product/offering and customer base to GESCO in the Indian energy and commodity shipping market.
• Frontline: Large pure-play tanker operator focused on VLCC/Suezmax/Aframax crude tankers; directly comparable to GESCO's crude tanker segment in business model, customer base (IOCs), and exposure to spot/tanker cycle economics.
• Star Bulk Carriers: Global dry bulk shipping operator with Capesize to Supramax/Ultramax fleet; directly comparable to GESCO's dry bulk segment in vessel types, customer base (mining, grain traders), and exposure to dry bulk freight cycles.
• International Seaways: Diversified tanker operator (VLCC, Suezmax, Aframax, LR2, MR) with dual-class crude/product exposure similar to GESCO's mixed tanker portfolio, competing for same international oil company customers.
• Scorpio Tankers: Major product tanker owner with MR and LR1/LR2 fleet; directly comparable to GESCO's product carrier segment in vessel types and refined product customer base.
• DHT Holdings: Independent pure-play VLCC operator; comparable in business model (time charter and spot VLCC crude transport) and customer base (oil majors), though smaller and less diversified than GESCO.
• Euronav: Belgian crude tanker operator with VLCC and Suezmax fleet; overlapping product category with GESCO's crude tanker division, competing in the same international charter markets with similar customer base.

Regional players

• Essar Shipping: Indian-based shipping company with bulk carriers and tankers; comparable in regional market (India) and product mix, though smaller scale and primarily serves Indian domestic and regional trade flows.

Broad incumbents

• Maersk Tankers: Part of A.P. Moller-Maersk's broader portfolio; operates product tankers globally and competes with GESCO's MR/LR product tanker fleet, though as part of a much larger conglomerate with container shipping focus.

Market position

Strengths5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/geshipping
• LinkedInin.linkedin.com/company/the-great-eastern-shipping-co.-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Great Eastern Shipping Co.