Transworld Shipping Lines Limited (formerly known as Shreyas Shipping & Logistics Ltd) has announced that its vessel SSL Sabarimalai has resumed operations following a 15-day off-hire period. The vessel received clearance from the Mercantile Marine Department (MMD) in Kolkata, allowing it to return to service.

Regulatory Clearance Details

According to a disclosure made by the company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the following key points were highlighted:

• The Principal Officer of MMD, Kolkata issued Release Order No. MMDKOL/84/2023-MMD-KOLKATA on August 29, 2023, for the vessel SSL Sabarimalai (IMO No. 9223899).
• The release order grants permission for the vessel to sail out from the Haldia port.
• The clearance came after a re-inspection of the vessel by MMD, Kolkata on August 29, 2023.

Financial Impact

Transworld Shipping Lines reported that the vessel remained off-hire for 15 days, resulting in a loss of revenue. However, the company stated that the amount is not considered significant in terms of its overall financial operations.

Company Response

Namrata Malushte, Company Secretary & Compliance Officer of Transworld Shipping Lines Limited, signed the disclosure, ensuring transparency with investors and regulatory bodies regarding the vessel's status.

This development marks a positive turn for Transworld Shipping Lines, as the SSL Sabarimalai can now resume its operational activities, contributing to the company's shipping services.

Transworld Shipping Lines Limited (formerly known as Shreyas Shipping and Logistics Limited) held its 37th Annual General Meeting (AGM) on August 22, 2025, through video conferencing. The shareholders approved all six resolutions presented at the meeting with an overwhelming majority.

Key Highlights

• The company declared a dividend of 15% (Rs. 1.50 per equity share) for the financial year ended March 31, 2025.
• Shareholders approved the re-appointment of Mr. Ritesh Sivaswamy Ramakrishnan as a Non-Executive, Non-Independent Director.
• Mr. Ajit George Paul and Mr. Ratnagiri Sivaram Krishnan were re-appointed as Non-Executive Independent Directors.
• The appointment of Mr. B Durgaprasad Rai as the Secretarial Auditor was approved.

Financial Performance

Executive Chairman Sivaswamy Ramakrishnan Iyer highlighted the company's strong financial turnaround in FY 2024-25:

Corporate Developments

Mr. Iyer noted several significant developments:

• The company was renamed from Shreyas Shipping and Logistics Limited to Transworld Shipping Lines Limited, effective September 23, 2024.
• A long-term charter agreement with Avana Logistek Limited (a Unifeeder subsidiary) ensures stable vessel deployment.
• The company has diversified into coastal dry bulk operations with two handysize carriers under a pool arrangement.
• Plans are in place to acquire 100% equity in Transworld Integrated Logistek Pvt. Ltd. and Transworld Logistics Pvt. Ltd.
• A partnership with Bainbridge Navigation DMCC is being established to create a UAE-based shipping pool focused on the Handysize segment.

Industry Outlook

The Chairman provided insights into the shipping industry's outlook:

• The global container shipping market is estimated at USD 119.65 billion in 2025 and is expected to reach USD 139.45 billion by 2030, growing at a CAGR of 3.11%.
• India is the fastest-growing container shipping market in Asia-Pacific, benefiting from expanding trade and modernized port infrastructure.
• The dry bulk shipping market is expected to face subdued growth in 2025, with a modest recovery anticipated in 2026.

Corporate Social Responsibility

The company reported that its CSR initiatives impacted nearly 18,000 beneficiaries, with 51% employee participation. Flagship programs like Beach Warriors and Olive Ridley Turtle Conservation contribute to coastal health and biodiversity preservation.

Audit Qualifications

The meeting addressed an audit qualification regarding the reversal of an insurance claim recoverable of Rs. 1,341.00 lakhs. Management stated that this reversal does not affect the company's net worth or total assets as of March 31, 2025.

The AGM, which began at 11:00 AM IST, concluded at 12:30 PM IST, with 43 shareholders representing 15,484,953 equity shares in attendance through the virtual platform.