Earnings at India’s Great Eastern Shipping were eroded by weaker tanker rates in the three months to the end of September.

The country’s biggest private shipowner, listed in Mumbai, said net profit in its second quarter was INR 5.76bn ($68.3m), versus INR 5.95bn in the same period of 2023.

D’Amico International on the hunt for tanker deals in tougher period market
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Revenue grew to INR 15.8bn