Shreyas expands its bulk cargo business

Shreyas Shipping and Logistics, a subsidiary of India’s Transworld Group, has acquired its first bulk carrier, diversifying beyond its container roots. The 12-year-old Ocean Rider handy bulk carrier was purchased for $14.175 million by Shreyas from Doriko of South Korea. TBC Badrinath will be the new name for the 34,250 dwt ship, bringing the Shreyas fleet to 12 ships. Shreyas also announced in a press statement that it has signed a contract for a second, unnamed bulk carrier, which it will receive later this month.