Athens: India’s Shreyas Shipping & Logistics has signed a memorandum of understanding to acquire a sub-panamax containership from Singapore-based Orient Express Lines (OEL) for $7m. Both companies are subsidiaries of the Transworld group.
The boxship is OEL Bharat (2,959 teu, built 1997), a filing to the Bombay Stock Exchange said today.
The acquisition will bring Shreyas’ fleet up to six container vessels, mostly of handymax and feedermax size.
In December 2014, OEL sold its handysize boxship OEL Gujarat (1,631 teu, built 1997) to Shreyas for $5m.