Transworld Shipping Lines Limited, formerly known as Shreyas Shipping & Logistics Ltd, has received Board approval to acquire two container vessels, OEL SURYA and OEL VARUN, from Orient Express Lines Inc.
The acquisitions will be undertaken through the company’s wholly owned subsidiary, Transworld Sea-Connect IFSC Private Limited, with the total transaction value estimated at USD 42.78 million.
The OEL SURYA will be acquired for USD 22.03 million (approximately ₹183.87 crore), while the OEL VARUN will be acquired for USD 20.75 million (approximately ₹173.17 crore).
The transactions are subject to necessary regulatory and other approvals, including shareholder approval through a postal ballot. The Board has approved the draft Postal Ballot Notice and appointed B. Durgaprasad Rai as Scrutinizer for the process.
The approvals were granted at a meeting of the Board of Directors held on September 7, 2026.
According to the company’s disclosure, Transworld Shipping Lines and Orient Express Lines Inc. are under common ultimate ownership and control. The proposed transactions are being undertaken on an arm’s length basis.
The acquisition of the two vessels is expected to strengthen Transworld Shipping Lines’ container shipping fleet and support the company’s ongoing expansion of its maritime logistics operations.