India’s Great Eastern Shipping has ruled out an overseas listing due to an appetite for pure-play shipping companies among investors.
The Mumbai-listed group is the country’s largest privately held shipowner, with a mixed fleet of tankers, bulkers, LPG carriers and offshore vessels.
Asked about the prospects for a secondary listing elsewhere, managing director Bharat Sheth told a conference call with analysts that his company is “in the very top quartile globally, both private and public companies included”, in terms of operating costs, maintenance of assets and customer satisfaction.
