Shreyas Shipping takes delivery of 'OEL Express', fully cellular ship

Shreyas Shipping & Logistics Ltd has announced that pursuant to the Memorandum of Agreement (MOA) executed by the Company, on February 26, 2007 the Company has taken delivery of the fully cellular ship 'OEL Express' of 918 Teu capacity, built in 1986.

The purchase of the 'OEL Express' has been made with an intention to meet the need for increase in capacity due to the growth in the logistics volumes. With the delivery of this vessel, the Company has added three vessels into its fleet during the year 2006-07, the PU Trusty, Independent Spirit and OEL Express resulting in an increase in capacity to the tune of 3,266 Teus which is equivalent to about 78% of the total fleet capacity as on March 31, 2006. The purchase will also enable the Company to rationalize its fleet strength.

Source : Equity Bulls

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