Transworld Shipping Lines has signed a Memorandum of Agreement (MOA) for purchase of two vessels, OEL Surya & OEL Varun from Orient Express Lines INC. The purchase consideration for OEL Surya is $22.03 million, while OEL Varun will be acquired for $20.75 million. The agreement has been entered by Transworld Sea-Connect IFSC, a wholly owned subsidiary of the company.
Transworld Shipping Lines (formerly known as Shreyas Shipping and Logistics) is the Indian-flagged vessel-owning company of the Transworld Group. The company provides uninterrupted service for out-of-gauge and heavy break bulk cargo with its owned fleet of ships.