Transworld Shipping Lines sells the bulk carrier TBC Kailash to Mandarine Ocean Ltd. for $9.25 million as part of its fleet restructuring.
Transworld is selling TBC Kailash for $9.25 million.
India-based Transworld Shipping Lines has signed a $9.25 million agreement with Mandarine Ocean Ltd. for the sale of the bulk carrier TBC Kailash from its fleet.
According to a statement made by Transworld Shipping Lines to the stock exchange, the company has signed a Memorandum of Agreement (MOA) with Mandarine Ocean Ltd. for the sale of TBC Kailash. The sale price has been set at $9 million 250 thousand. The company announced that the signed agreement was received on September 11, 2026.
Fleet restructuring continues.
Built in 2011, the TBC Kailash has a capacity of 35,152 dwt and is one of two bulk carriers in Transworld's fleet. The Chinese-built vessel joined the fleet in November 2021, when the company was operating under the name Shreyas Shipping and Logistics, and became the company’s second bulk carrier.
The sale of TBC Kailash constitutes a new link in Transworld's recent acceleration of fleet restructuring efforts.
Previously, the company had agreed to sell its largest container ship, the 4,250 TEU capacity SSL Brahmaputra, for $11.4 million to Avana Logistek, which is controlled by DP World. Transworld announced on September 10 that the sale of SSL Brahmaputra was completed and that the vessel was delivered to the buyer in Fujairah.
No partnership relationship with the buyer.
According to Transworld's official notification, there is no partnership or related party connection between the buyer of TBC Kailash, Mandarine Ocean Ltd., and the company. The transaction does not qualify as a related party transaction.
However, the company's statement dated September 11 did not specify the final delivery date of the vessel or how the sale proceeds would be utilized. Therefore, although an MOA has been signed for the $9.25 million transaction, it has not yet been announced that TBC Kailash has been delivered to the buyer, completing the sales process.
Source: SeaNews Türkiye
