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Great Eastern Shipping improves first half earnings

Great Eastern Shipping improves first half earnings
Mumbai-based Great Eastern Shipping has recorded improved earnings in the first half of its financial year 2016.

Net profit for the first half ended 30 September 2015 was registered at INR7.06bn ($106.06m), an increase from the gain of INR4.3bn in the same period of last year.

Revenue also rose to INR21.15bn during the first half compared to INR18.66bn in the year-ago period.

The bulker and tanker shipowner said lower bunker fuel costs and higher rates in the tanker market have helped to boost its financial results.