Transworld Shipping shares in focus after $3.5 million vessel sale deal; check details

Transworld Shipping Lines shares are set to be in focus of the stock market investors on Tuesday, April 28, after the company signed a memorandum of agreement (MOA) for the sale of one vessel to Avana Logistek Ltd, according to an exchange filing.

In the NSE filing, the company disclosed that it was selling its container vessel named ‘M.V. SSL Gujarat’ to Avana Logistek for a sum of $3.5 million, and the directors for the deal will be appointed one day prior to the delivery of the asset.

“We wish to inform you that the Company has signed a Memorandum of Agreement (MOA) on 27th April 2026 for sale of one vessel, M.V. SSL Gujarat to Avana Logistek Limited,” the company informed the stock exchanges.

MarineTraffic data suggests that the M.V. SSL Gujarat is an Indian flagged container ship with an overall length of 193.03 metres and a width of 28.02 metres. As per the latest data, the container ship is anchored at the Western Coast of India as of 8:28 am on April 28.

The data also showed that the ship was built back in 1997 and has been in service for nearly 29 years since its commissioning. The container ship has a gross tonnage capacity of 18,602 tonnes and a deadweight of 24,365 tonnes.

Prior ship sale

The company has been shedding some of its assets, selling ships to other companies, in an effort to reduce maintenance costs as the operational fleet grows old and needs frequent fixes.

Earlier this month, Transworld Shipping Lines sold its ship, named ‘M.V. SSL Godavari’, to Avana Logistek for a sum of $19.6 million. In March, the company sold its ship named ‘M.V. SSL Krishna’ to the same company for a sum of $11.90 million.

With the losses rising every quarter in the financial year ended 2025-26, the company has likely shifted to an asset-light model, a reason behind selling older assets from its fleet.

The company’s financial statements for the October to December quarter highlighted a combination of rising net losses and falling revenue from core operations. Transworld Shipping recorded a net loss of ₹23.03 crore in the third quarter, while the company made a net profit of ₹ 15.83 crore in the same period the previous financial year.

On a quarter-on-quarter basis, the net loss widened 150% to ₹23.03 crore in the third quarter, compared to ₹9.19 crore in the same period a year ago, as per the NSE filings.

The revenue from core operations dropped nearly 30% to ₹82.40 crore in the third quarter, compared to ₹117.03 crore in the same quarter of the previous year, as per the standalone statements.

Transworld Shipping shares

Transworld Shipping shares closed 2.36% higher at ₹176.07 after Monday’s stock market session, compared to ₹172.01 at the previous market close, according to the NSE data. The company announced its ship sale update after the market operating hours on April 27.

Shares of Transworld Shipping, formerly known as Shreyas Shipping, have delivered investors more than 116% gains in the last five years, but the stock has lost 43% in three years, 39% in the past one year, and more than 12% so far in 2026.

NSE data also showed that the shipping company’s stock was up 20% in one month, and was trading over 3% in the last five market sessions. The company’s market capitalisation (M-Cap) was at ₹382 crore as of Monday’s closing session.