Transworld Shipping Lines Limited (formerly Shreyas Shipping & Logistics Ltd) has announced the approval of the acquisition of two container vessels, “OEL SURYA” and “OEL VARUN,” from Orient Express Lines Inc. The acquisitions will be carried out through its wholly owned subsidiary, Transworld Sea-Connect IFSC Private Limited.
The vessel OEL SURYA is being acquired for a consideration of USD 22.03 million, approximately Rs 183.87 crore, and OEL VARUN for USD 20.75 million, approximately Rs 173.17 crore, taking the total deal value to USD 42.78 million.
Both transactions are subject to necessary approvals, including shareholder consent via postal ballot. The Board of Directors has approved the draft Postal Ballot Notice to seek shareholder approval and has appointed B. Durgaprasad Rai as the Scrutinizer for the postal ballot process.
The Board meeting where these approvals were granted was held on Monday, September 7, 2026. The disclosures indicate that the buyer and seller are under common ultimate ownership and control, with the transactions conducted on an arm’s length basis.
