India’s Transworld Shipping Lines has returned to the secondhand dry bulk market, agreeing to acquire a supramax carrier for $16.5m as it continues reshaping its fleet.
The Navi Mumbai-based owner has struck a deal to purchase the 2011-built, 55,648 dwt Saltwind Explorer, according to a filing with the National Stock Exchange of India.
The company did not disclose financing arrangements or the expected completion date.
The Marshall Islands-flagged supramax, built in 2011, is equipped with four cargo cranes and has been trading internationally under its present name since 2023.
The latest purchase follows several disposals by Transworld, formerly known as Shreyas Shipping and Logistics.
In September, the company agreed to sell its 2011-built, 35,152 dwt TBC Kailash (pictured) to Mandarine Ocean for $9.25m.
That deal followed a series of containership disposals to DP World-controlled Avana Logistek, including the $11.4m sale of the 4,250 teu SSL Brahmaputra in August.
Transworld’s shipowning and dry bulk businesses were retained when DP World’s Unifeeder acquired the group’s Indian coastal and feeder operations in a transaction completed in 2021.
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Adis Ajdin
Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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