Transworld Shipping Lines Limited has agreed to sell its vessel, M.V. SSL Brahmaputra, to Avana Logistek Limited for US$ 11,400,000. The company signed the Memorandum of Agreement (MOA) on August 7, 2026, marking a significant asset divestment in its fleet management strategy. This transaction allows the company to realize value from its existing assets while restructuring its operational portfolio.

The sale was disclosed to the stock exchanges in compliance with Clause 5 of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/II/3762/2026 dated July 11, 2023, which was amended on January 30, 2026. These regulatory frameworks ensure transparency in material agreements involving listed entities.

Transaction Details

The agreement outlines specific terms regarding the transfer of ownership and financial considerations. Below are the key details of the transaction as per the filed annexure:

The company confirmed that there is no shareholding interest in Avana Logistek Limited, nor are the parties related to the promoter group or group companies in any manner. Consequently, the transaction does not fall within the ambit of related-party transactions and was not required to be conducted at arm's length under those specific provisions.

Regulatory Compliance and Disclosures

Namrata Malushte, Company Secretary & Compliance Officer of Transworld Shipping Lines Limited, certified the submission. The filing explicitly states that no special rights, such as the right to appoint directors or restrict changes in capital structure, were granted to the buyer. Additionally, there are no potential conflicts of interest or nominee appointments on the board arising from this agreement.

The company noted that any future termination or amendment of this agreement will trigger further disclosures to the stock exchanges, including details of the impact thereof. For now, the agreement stands as a definitive step in the disposal of the M.V. SSL Brahmaputra.

Transworld Shipping Lines has completed the sale of its vessel, M.V. SSL Visakhapatnam, to Knight Marine Inc. The transaction was finalized on August 7, 2026, following the execution of the Protocol of Delivery and Acceptance between the buyer and the seller. This completion follows a prior disclosure made by the company on July 26, 2026, regarding the intended sale.

The vessel was delivered at Pipavav, India, to Knight Marine Inc., which is based at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro MH96960, Marshall Islands. The successful handover marks the final step in the divestment process for this specific asset.

Transaction Details

The company submitted the confirmation of the sale to the BSE Limited and the National Stock Exchange of India Limited for record and dissemination. The details of the completed transaction are outlined below:

Namrata Malusht, Company Secretary and Compliance Officer of Transworld Shipping Lines Limited (formerly known as Shreyas Shipping and Logistics Limited), signed the communication confirming the completion. The reference number for this filing is TSL/34/2026-27.

What the Numbers Show

The completion of this vessel sale represents a definitive reduction in the company's fixed asset base. While the financial proceeds from the sale are not disclosed in this specific filing, the execution of the Protocol of Delivery and Acceptance confirms that the asset has been legally transferred to the buyer. This type of asset optimization is common in shipping firms looking to manage fleet composition or liquidity. The delivery at Pipavav, a major port hub in Gujarat, suggests logistical efficiency in the handover process.