Shreyas Shipping & Logistics will sell its 51% stake in Haytrans (India) (HIL) to its wholly owned subsidiary - Shreyas Relay Systems (SRS). This transaction will help SRS foray into international freight forwarding. Further, Shreyas Shipping & Logistics has also received approval to acquire one bulk vessel. The vessel is scheduled to be delivered in FY 2012-13. With this the company will diversify its shipping business. The board of directors of the company at its meeting held on July 26, 2011 transacted the business.
Last year in December, Shreyas Shipping & Logistics had entered into the coastal bulk shipping operations with the deployment of M V Unity, a coastal bulk vessel. The vessel M V Unity was a single decker, self geared, bulk ship strengthened for heavy cargo.
Shreyas Shipping & Logistics, a Transworld Group of company, was incorporated primarily to own and operate vessels for feedering of containers between Indian ports and internationally renowned container transshipment ports.
