Shreyas Shipping to acquire 4 container vessels by 2017

Shreyas Shipping and Logistics Ltd, a part of global conglomerate Transworld Group, today said it plans to acquire four vessels by 2017.
"The Board of Directors of the Company have approved a plan for acquisition of 4 container vessels ranging from 1700 teus (twenty foot equivalent units) to 2500 teus over a period of 18-24 months," the company said in a filing to the BSE.
It said details of the acquisitions shall be made available to the investors as and when finalised.
TEU is a unit of cargo capacity used to describe the capacity of container ships and container terminals, based on the volume of a 20-foot-long intermodal container.

Shreyas Shipping and Logistics claims to be India's first container feeder owning and operating company.
It commenced its operations in 1994 primarily to fill the gap for feedering of containers between Indian ports and international transhipment ports such as Dubai, Jebel Ali, Colombo and Singapore.
It currently owns and operates a fleet of six vessels trading on the Indian coast.
Shares of the company closed at Rs 368.40 apiece, down 3.05 per cent from their previous close on the BSE.