Transworld Shipping Lines has signed a memorandum of agreement to acquire two vessels, OEL Surya and OEL Varun, from Panama-based Orient Express Lines Inc. for a combined consideration of $42.78 million.
According to a stock exchange disclosure, the company received the agreement on October 24, 2026. The acquisitions will be carried out through Transworld Sea-Connect IFSC, its wholly owned subsidiary.
Under the agreements, OEL Surya will be acquired for $22.03 million, while OEL Varun will be purchased for $20.75 million.
The acquisition will expand the vessel portfolio of Transworld Shipping Lines, the vessel-owning business of Transworld Group, an integrated shipping and logistics group established in 1977. The company provides container shipping services, particularly for domestic coastal cargo movements in India, and also offers vessels for charter to other operators.
The group’s broader operations include ocean and air freight, freight forwarding, warehousing and distribution, and multimodal transportation.
The latest disclosure does not specify the intended deployment of the two vessels, including whether they will operate on domestic coastal routes, international services or charter assignments. Details regarding their capacity, age and expected delivery dates have also not been disclosed.
Transworld Sea-Connect IFSC will act as the buyer, while Orient Express Lines Inc. will be the seller. The disclosure identifies the transactions as related-party transactions, as both entities are under common ultimate ownership or control. The company stated that the acquisitions would be conducted on an arm’s-length basis.
The agreements have been disclosed to the stock exchanges in accordance with applicable Securities and Exchange Board of India (SEBI) requirements.