ATHENS: Shreyas Shipping & Logistics has signed a memorandum of understanding to acquire a sub-panamax containership from UAE-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.
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In December 2014, OEL sold its handysize boxship OEL Gujarat (1,631 teu, built 1997) to Shreyas for $5m.
