Date: 25th October 2026
Agreement Details
Transworld Shipping Lines Limited has signed a Memorandum of Agreement (MOA) for the purchase of two vessels:
Vessel 1: OEL Surya
- Purchase consideration: US$ 22,030,000
- Buyer: Transworld Sea-Connect IFSC Private Limited (wholly owned subsidiary)
- Seller: Orient Express Lines Inc., Panama
Vessel 2: OEL Varun
- Purchase consideration: US$ 20,750,000
- Buyer: Transworld Sea-Connect IFSC Private Limited (wholly owned subsidiary)
- Seller: Orient Express Lines Inc., Panama
Transaction Structure
- Total transaction value: US$ 42,780,000
- The buyer, Transworld Sea-Connect IFSC Private Limited, is 100% owned by Transworld Shipping Lines Limited
- The transaction is classified as a related party transaction since both buyer and seller entities are under common ultimate ownership/control
- The transaction is reported to be undertaken on an arm's length basis