Transworld acquires boxship duo for $42.78m

India’s Transworld Shipping Lines Limited, formerly known as Shreyas Shipping and Logistics Limited, has signed a memorandum of agreement for the acquisition of two 2006-built containerships, OEL Surya and OEL Varun, from Orient Express Lines INC.

The Navi Mumbai-based owner is buying, through its subsidiary Transworld Sea-Connect IFSC Private Limited, the vessel OEL Surya from Orient Express Lines INC., Panama, for a consideration of US$22.03m.

The company is also purchasing the OEL Varun from Orient Express Lines INC. for a consideration of US$20.75m.

Orient Express Lines Inc (OEL Inc), is an integral part of the Transworld Group.

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