Shreyas Shipping buys cellular ship

New Delhi, Feb 27 (UNI) Shreyas Shipping&Logistics Ltd, the shipping and logistics arm of Transworld Group, has purchased a 1986-built, fully cellular ship of 918 Teu capacity for an undisclosed amount.

The company has bought the ship, OEL Express, with an intention to meet the increasing capacity needs due to the growth in the logistics volumes.

The company added three vessels in its fleet during the year 2006-07 -- the PU Trusty, Independent Spirit and OEL Express -- resulting in an increase in capacity to the tune of 3,266 Teus which is equivalent to about 78 per cent of the total fleet capacity as on March 31, last year, a Shreyas Shipping statement said.

The purchase will also enable the company to rationalise its fleet strength, it added.

UNI