Shreyas Shipping buys small containership from OEL

Shreyas Shipping buys small containership from OEL

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.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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