Shreyas Acquiring Additional Vessels to Expand Fleet

Maritime Activity Reports, Inc.

July 18, 2015

Pic: Shreyas Shipping and Logistics Ltd

Pic: Shreyas Shipping and Logistics Ltd

 Mumbai-based Shreyas Shipping and Logistics Ltd (SSL), part of global conglomerate Transworld Group, has acquired two container ships to boost its fleet to 8 vessels from earlier 6 vessels.

 
In a filing to the stock exchange, the company said that the newly acquired ships would be plying in domestic as well as international waters. The company also plans to introduce additional 5two vessels within a years’ time.
 
SSL Bharat with a capacity of 2,959 Twenty-Foot Equivalent Units (TEUs) of containers was delivered at Jebel Ali, Dubai, on Thursday. SSL Chennai of 700 TEUs capacity was added to the fleet at Port Kelang, Malaysia on July 14.
 
Following the induction, SSL’s fully-owned subsidiary Shreyas Relay Systems will commence operations to Bangladesh soon.
 
SSL Chairman and Managing Director S. Ramakrishnan stated: “Shreyas plans to operate both newly acquired vessels on the Indian coast thereby plying all its eight container vessels, with a total capacity of 11,954 TEUS and 1,68,406 DWT, for coastal shipping, thus helping to raise container service across Indian coast to a new level and service the needs of domestic as well as Exim transshipment trade on the Indian coast.”
 
This container ship of 2959 TEU and 34769 DWT will be the largest container vessel  operating  on the Indian coast for domestic coastal trade emphasizing the company’s confidence about the prospects for growth of coastal shipping,  and its commitment towards development of coastal shipping in India.
 
Since January 2015, SSL has been operating a domestic containerized cargo movement connecting all Indian ports from Mundra to Kolkata as part of Sagar Mala project.
 
Shreyas had announced earlier this year about plans for acquiring four container ships in a span of 18 to 24 months. With this fleet enhancement, two ships have now been acquired and two more ships are planned for acquisition in the next one year.
 
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