Indian boxline Shreyas Shipping and Logistics is moving into the breakbulk space, having clinched a deal with local steel mill, Rashtriya Ispat Nigam Ltd (RINL), to move products from its plant at Visakhapatnam to stockyards in Ahmedabad, Mumbai and Kochi.
Mumbai-listed Shreyas, the Indian shipowning unit of Dubai-based Transworld Group, has purchased a foreign-flagged multipurpose vessel to haul 225,000 tonnes a year to the three destinations. The ship is being reregistered to the Indian flag. A second MPP is set to be added to the fleet soon. Shreyas has 11 boxships in its fleet too.