Shreyas Shipping & Logistics Ltd

Summary

Incorporated as a private limited company, Shreyas Shipping (SSL) got its present name and became a public limited company in Dec.94. Promoted by the Transworld group, it heralded the entry of the private sector into container shipping.After liberalisation, the company acquired MV Orient Prosperity, an 8000-dwt container vessel with a capacity of 405 TEUs, which is the first container owned by the private sector in India. Feeder vessels and services form an integral part of the containerised shipping sector.In Nov.93, the Ship Acquisiton & Licensing Committee permitted Shreyas Shipping to acquire three container feeder vessels. This was the first sanction of its kind accorded to the private sector in over a decade. The company has chartered its course to become a major feeder operator in the Bombay-UAE sector, for which a strategic alliance has been entered into with X-Press Containers, UK. It has also commenced a regular common carrier service connecting Bombay and Colombo. SSL has tied-up with OEL, UK, for technical know-how, shipping operations and procurement of business. Company entered into agreement for taking Two Containers Vessels on lease having a capcity of 1152 teus each from ICICI Ltd. With this acquisiton company increase the fleet to seven. Company started new service between Salaah - Colombo - Tuticorin - Cochin. In 1999-2000, the company has taken on lease two new vessels, the Orient Spirit and the Orient Strength. It has commenced service between the ports... Read More