Transworld Shipping Lines has signed a Memorandum of Agreement (MOA) to purchase the vessel SALTWIND EXPLORER for US$ 16,500,000. The agreement was executed on October 19, 2026, with Saltwind Explorer Inc. acting as the seller.

Transaction Details

The company disclosed the signing of the MOA to stock exchanges in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction involves the acquisition of a single vessel from an external entity.

Regulatory Compliance

The disclosure was made pursuant to Clause 5 of Para A of Part A of Schedule III of SEBI LODR Regulations, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, as amended on January 30, 2026.

The company confirmed that the transaction does not fall under related party transactions. There is no shareholding by Transworld Shipping Lines in the seller entity, nor are the parties related to the promoter or promoter group in any manner. Consequently, no special rights such as director appointments or restrictions on capital structure changes were included in the agreement.

Transworld Shipping Lines has completed the sale of its vessel, M.V. SSL Sabarimalai, to Avana Logistek Limited on October 5, 2026. This development supersedes previous reports indicating that the transaction had been terminated.

The sale was finalized pursuant to the execution of the Protocol of Delivery and Acceptance between the buyer and the seller. The vessel was delivered at Vishakhapatnam, India, marking the successful conclusion of the divestment process initiated in August 2026.

Transaction completion details

The company informed stock exchanges that the sale was successfully completed on October 5, 2026. This update corrects the earlier status which suggested the deal had been called off.

The transaction follows an initial announcement made via letter reference TSLL/31/2026-27 dated August 4, 2026. The final confirmation was issued under reference TSLL/50/2026-27, signed by Namrata Ashish Malushta, Company Secretary & Compliance Officer.