Indian shipping stocks defy wider weakness as Mideast tensions spur tanker demand hopes

The Great Eastern Shipping

13/06/2025 07:39

** Indian shipping stocks rise, outliers in a weak market .BO

** Great Eastern Shipping Co GESC.NS rises 6%, Shipping Corp of India SCI.NS jumps 10%

** Jump on the day sentiment-driven, on fears Israel-Iran conflict may widen, which could disrupt oil supply and drive up tanker demand and rates - Aishvarya Dadheech, founder and chief executive of Fident Asset Management

** Crude prices have soared on the day, last up more than 9%, dragging local refiners and lifting oil producers

** YTD, GESC up over 7%, SCI up more than 11%

(Reporting by Hritam Mukherjee in Bengaluru)

((Hritam.Mukherjee@thomsonreuters.com;))