'
Great
Eastern Shipping Company hosted a conference call on Nov 14, 2022. In the
conference call the company was represented by Bharath K Seth, MD and G
Shivakumar, ED.
Key
takeaways of the call
The
standalone net asset value (NAV) for the quarter ended Sep 2022 was Rs 809
(against Rs 569 as end of Sep
2021). On consolidated basis the
NAV for quarter ended Sep 2022 stood at Rs 901-968 (against Rs 594-643 as end
Sep 2021).
In
Q2FY23 the crude and product tanker freight markets became even stronger than
Q1FY23 and that has more than compensated for lower dry bulk rates.
Asset
values reflected the trend in freight market sentiment, with tanker prices
continuing to rise and dry bulk prices falling by approximately 15 to 20%.
The
continuing strengthening in oil prices coupled with low level of inventory has
supported the offshore business and here too the asset values ar...
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