GE Shipping, SCI soar up to 12% on heavy volumes in weak market

Share price of Shipping Corporation of India has rallied 12% to ₹230.50, while Great Eastern Shipping surged 7.5% to ₹1,047.25 in intra-day trade, as compared to nearly 1% decline in BSE Sensex.

Shares of shipping companies like Shipping Corporation of India (SCI) and Great Eastern Shipping Company (GE Shipping) have soared up to 12 per cent on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market.

 

The surge in stocks came as the Baltic index extended its rally to hit an over-eight-month high.

 

Among the individual stocks, SCI rallied 12 per cent to ₹230.50 on the BSE in intra-day trade. The average trading volumes on the counter jumped over fivefold. A combined 25.97 million shares, representing 5.6 per cent of the total equity of SCI, changed hands on the NSE and BSE.

 

 

Share price of GE Shipping surged 7.5 per cent to ₹1,047.25 in intra-day trade. As many as 351,000 shares have changed hands, as against an average of sub 50,000 shares traded on the BSE. In comparison, the BSE Sensex was down nearly 1 per cent.  Track LIVE Stock Market Updates Here

Baltic index extends rally; hits over eight-month high

According to a Reuters report, the Baltic Exchange's dry bulk sea freight index extended gains to scale a more than eight-month peak due to higher rates across both large and small vessel segments. The main index was up 166 points, or 9.6 per cent, at 1,904, its highest since October 7. 

 

The escalating tension in the Middle East is sparking fears of global trade disruptions and rising tanker rates. The Baltic Exchange's dry bulk sea freight index measures shipping rates for vessels transporting dry bulk commodities. 

 

The Baltic Dry Index (BDI) is a number (in $) issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a time charter basis, the index covers Handysize, Supramax, Panamax and Capesize bulk carriers carrying a range of commodities including coal, iron ore and grain. Dry bulk trade demand is generally driven by the global economic outlook.

US, China reach agreement

US President Donald Trump on Wednesday claimed that a trade deal with China has been finalised, pending final approval from both him and Chinese President Xi Jinping.

 

In a post on Truth Social, Trump stated, “Our deal with China has been finalised, pending final approval from President Xi and myself. As part of the agreement, China will supply, upfront, full magnets and any necessary rare earth materials.” CLICK HERE FOR FULL REPORT

Crisil Ratings' view on GE Shipping

GE Shipping is the largest private sector shipping company in India. The company operates two main businesses, tankers and dry bulk carriers, wherein it owns and operates 38 vessels (26 tankers and 12 dry bulk carriers) with a combined capacity of 3.04 million dead weight tonnage as of February 21, 2025.

 

In February 2025, Crisil Ratings upgraded its rating on the non-convertible debentures (NCDs) of GE Shipping to ‘Crisil AAA/Stable’ from ‘Crisil AA+/Positive’.

 

The rating upgrade reflects Crisil Ratings’ expectation that the company shall sustain its strong financial risk profile as supported by its sizeable net-worth, robust liquidity and low leverage amid healthy operating performance, resulting in strong cash accrual. 

 

Despite cyclicality in the operating performance of the shipping and offshore oilfields service businesses, the financial risk profile of GE Shipping is likely to remain strong over the medium term. Owing to its prudent risk management policy, the gearing (measured as a ratio of debt to equity) has remained below 1 time over the past 10 years, the rating agency said in its rationale.