Transworld Shipping Lines signed a Memorandum of Agreement on May 29, 2026, to sell the vessel M.V. SSL Thamirabarani to Avana Logistek Limited for US$ 5,700,000. The agreement marks a strategic divestment for the shipping company, allowing it to monetize one of its assets. The transaction is not classified as a related party transaction and was conducted at arm's length.

The sale was disclosed to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made in compliance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2//3762/2026 dated July 11, 2023, as amended on January 30, 2026.

According to the annexure submitted to the exchanges, the significant term of the agreement specifies that the delivery of the vessel will occur one day prior to the final handover. There are no special rights, such as the right to appoint directors or restrict changes in capital structure, associated with this agreement.

The following table outlines the key details of the transaction:

Transworld Shipping Lines clarified that it holds no shareholding in Avana Logistek Limited. The company also confirmed that there are no potential conflicts of interest arising from this agreement. The filing was signed by Namrata Malushte, Company Secretary & Compliance Officer.

Transworld Shipping Lines Limited has announced its audited financial results for the quarter and year ended March 31, 2026. The company reported a consolidated net loss of Rs 75 crore for the financial year, a significant shift from the net profit of Rs 28 crore recorded in the previous year. Revenue from operations stood at Rs 548 crore for the year, down from Rs 650 crore in FY25. The company submitted the press release to the stock exchanges on May 20, 2026.

Financial Performance

For the quarter ended March 31, 2026, the company reported a consolidated net loss of Rs 30 crore. Revenue from operations for the quarter was Rs 132 crore, compared to Rs 152 crore in the corresponding period of the previous year. EBITDA stood at Rs 4 crore, down from Rs 37 crore in the prior year's quarter. The basic and diluted earnings per share (EPS) for the year was reported at (Rs 34.18), compared to Rs 12.72 in the prior year.

Operational Highlights

The company noted that its current fleet stands at 11 vessels, comprising 9 container feeder vessels and 2 dry handy size bulk vessels. During the quarter, the company entered into a memorandum of agreement to sell one of its vessels, M.V. SSL Krishna, which was handed over to the buyers on April 8, 2026. Additionally, the company has entered into memoranda of agreement for the sale of four container ships—M.V. SSL Godavari, M.V. SSL Gujarat, M.V. SSL Bharat, and M.V. SSL Mumbai—to M/s Avana Logistek Limited.

The company is actively evaluating opportunities to acquire modern vessels, including containers and dry bulk ships. It has entered into a Memorandum of Understanding with Swan Defence and Heavy Industries Limited to explore the feasibility of acquiring 2+2 new container vessels. Furthermore, the company proposes to establish a shipping pool company focused on the Handysize vessel segment in a joint venture with Bainbridge Navigation DMCC.