Indian container feeder operator Shreyas Shipping & Logistics has signed an MOU to acquire a 2,500 TEU containership from an unnamed party.

Delivery is expected by the end of this month, and the vessel will be used for Indian coastal routes, the company informed the Bombay Stock Exchange.

Once the acquisition is complete, the company, which is part of Dubai-headquartered conglomerate Transworld Group, will own a fleet of 10 vessels ranging in capacity from 569 TEU to 2959 TEU, Singapore's Splash 24/7 reported.