Marine Link
Friday, March 29, 2024
SUBSCRIBE

Shreyas Shipping Logistics News

12 Mar 2017

Shreyas Shipping Acquires Balaji Shipping

India’s Shreyas Shipping and Logistics has approved plans for its subsidiary Shreyas Relay Systems (SRS) to acquire 99.9% of Balaji Shipping Lines from Transworld Holding (TWH). Shreyas Shipping said that consequent to the said issue, the company would hold less than 50 percent of the shareholding in SRS. It also said that as consideration for deal, the company will issue fully paid up equity shares to TWH. Dubai-headquartered Balaji Shipping Lines is engaged in refrigerated and dry cargo transport between the Indian subcontinent and the Middle East. It has a presence in Dubai, Saudi Arabia, Oman and UK through its subsidiaries. “Upon the said acquisition…

15 Feb 2016

Shreyas Shipping, Profit Down, Acquires Vessel

Shreyas Shipping & Logistics Ltd reported weak set of earnings in its third quarter earnings on Friday. Net profit fell a staggering 88 percent to Rs 2.77 crore year-on-year (YoY) and EBITDA margins dipped 17.4 percentage points to 6.4 percent (YoY). It has reported a consolidated total income from operations of Rs 141.14 crore and a net profit of Rs 2.77 crore for the quarter ended Dec '15. For the quarter ended Dec 2014 the consolidated total income from operations was Rs 139.83 crore and net profit was Rs 22.38 crore. VK Singh, CEO of Shreyas said that the even though capacity had increased but low demand due to global meltdown impacted this quarter. Revenue growth was limited as freight rates fell 30 percent this quarter, he added.

19 Dec 2006

Shreyas Takes Delivery of Container Vessel

Shreyas Shipping & Logistics Company has taken the delivery of the Independent Spirit of 1,300 Teu capacity, built in 1991, on December 15, 2006. The purchase of Independent Spirit will enable the company to enhance the fleet capacity to meet the growth in its logistics business. Shreyas Shipping & Logistics is a container feeder shipping company in India. The company has six ships, out of which four ships, OEL Aishwarya, Orient Independence, OEL Patriot and OEL Victory are deployed in west coast Colombo, coastal and Shreyas India Pakistan (SIP) service. Source: Myiris