War throws up rare winner in Great Eastern Shipping

As war roils the Persian Gulf and the global economy feels its shockwaves, just across the Arabian Sea in Mumbai sits Great Eastern Shipping Co. Ltd, one of the few winners of a conflict that nobody but a few wanted.

- Nehal Chaliawala

India's largest private shipowner, with a fleet of 40 vessels, is benefiting as global ship chartering rates surge amid the war entering its fourth week on Saturday. The Baltic Dirty Tanker Index (BDTI) and the Baltic Clean Tanker Index (BCTD, which track the prices of unrefined crude and refined oil product tankers, respectively, have doubled from their 12-month averages, according to data.

GE Shipping is the operator of Jag Laadki, which was only the fourth vessel to cross the Strait of Hormuz since Iran blockaded the strategic passage two weeks ago. Carrying around 81,000 tonnes of crude oil, the vessel reached the Mundra port on Wednesday. Jag Prakash, another GE Shipping vessel, has also managed to cross the strait, as per reports.

The company’s shares have gained more than 27% since the beginning of 2026, compared to a 12% correction in the Sensex over the same period.

GE Shipping shares closed 1.3% lower on Friday at ₹1,422.95 on BSE, giving the company a market capitalization of just over ₹20,000 crore.