Transworld Shipping Lines Limited has announced the signing of a Memorandum of Agreement for the sale of its vessel M.V. SSL Godavari to Avana Logistek Limited for US$ 19,600,000. The agreement was executed on April 14, 2026, and disclosed to stock exchanges under regulatory compliance requirements.

Transaction Details

The vessel sale agreement represents a significant asset divestment for the shipping company. The transaction involves the complete sale of the SSL Godavari vessel, with delivery scheduled one day prior to the final handover as per the agreement terms.

Regulatory Compliance

The transaction disclosure was made pursuant to Clause 5 of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company followed SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated July 11, 2023, which was amended on January 30, 2026.

Transaction Structure

The company confirmed that Avana Logistek Limited has no shareholding in Transworld Shipping Lines Limited and is not related to the promoter, promoter group, or group companies. The transaction does not fall within the related party transactions framework, ensuring arms-length dealing compliance.

Corporate Disclosure

The agreement details were submitted to both BSE Limited and National Stock Exchange of India Limited for record and dissemination. Company Secretary and Compliance Officer Namrata Malushte signed the disclosure documents, ensuring full regulatory compliance for the vessel sale transaction.

Transworld shipping lines Limited has successfully completed the sale of its vessel M.V. SSL Krishna to Avana Logistek Limited, marking the conclusion of a significant asset divestment transaction. The completion was announced through a regulatory filing under Regulation 30 on April 8, 2026.

Transaction Completion Details

The vessel sale was finalized on April 8, 2026, following the execution of the Protocol of Delivery and Acceptance between the buyer and seller. The transaction represents the successful conclusion of the sale process that was previously communicated to the exchanges.

Delivery and Documentation

The vessel was delivered at Chennai, India, with all necessary documentation completed between the parties. The Protocol of Delivery and Acceptance served as the final documentation confirming the transfer of the vessel from Transworld Shipping Lines Limited to Avana Logistek Limited.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 by informing both BSE Limited and National Stock Exchange of India Limited about the transaction completion. This follows the company's earlier communication dated March 20, 2026, which had initially disclosed the planned vessel sale to the exchanges.

The completion of this vessel sale transaction demonstrates Transworld Shipping Lines Limited's continued focus on optimizing its fleet composition and asset portfolio management strategies.