Great Eastern Shipping Company (GE Shipping), the shipping and offshore service provider, has signed a contract to buy a Supramax bulk carrier of about 52,454 dwt. The 2006 built vessel is expected to join the company's fleet in September-October 2014.

The company's current fleet stands at 30 vessels, comprising 22 tankers (8 crude carrier, 12 product tankers, 2 LPG carriers) and 8 dry carriers (1 capesize, 3 Kamsarmax, 4 supramax) with an average age of 10 years aggregation 2.42 mn dwt.

Shares of the company gained Rs 6.75, or 1.7%, to trade at Rs 402.70. The total volume of shares traded was 8,118 at the BSE (10.58 a.m., Monday).