Shreyas acquires another box vessel for $5.4 million

Shreyas Shipping and Logistics has expanded its coastal container service capacity with an additional 1613 TEU vessel.

The vessel `SSL Gujarat’ acquired at a cost of $ 5.4 million from the group company OEL, will join the fleet in India next week. This will enable Shreyas to offer a fortnightly service linking all the major ports on east and west costs from Mundra in Gujarat to Kolkotta—the first company to provide such a service.

The service will operate on rotation on the Mundra – Tuticorin – Katupalli – Vizag – Tuticorin – Cochin – Jebel Ali – Mundra sector.

The company proposes to make it a weekly service in the future.

The service will enable shippers to move goods by sea from Gujarat to Andra Pradesh and West Bengal. This will significantly reduce the logistic costs of moving goods between west and east coasts.

The service is also expected to help transhipment of cargo through Vallarpadam container terminal near Kochi.

The service meets the vision of Ministry of Shipping, which emphasizes on domestic coastal trade to new areas covering entire Indian coast, transshipment connectivity from east coast ports to Vallarpadam Terminal, and direct sailing from all east and south Indian ports to Gulf thereby reducing Indian cargo’s transshipment at Colombo, said a company statement.
Source: Hindu Business Line