India's Transworld Shipping Lines is continuing its containership sell-down to DP World-controlled Avana Logistek, having agreed to sell the SSL Brahmaputra for $11.4 million.

The Mumbai-listed owner, formerly known as Shreyas Shipping & Logistics, signed a memorandum of agreement for the vessel on August 7, according to a filing with the National Stock Exchange of India (NSE).

The 2003-built vessel has a capacity of approximately 4,250 TEU. It joined the Shreyas fleet in 2017 after being acquired under the name Queens Quay. Upon being renamed SSL Brahmaputra, it became the company's largest containership at the time.

This transaction follows a series of Transworld boxship sales to the DP World unit this year, which have included the SSL Krishna, SSL Godavari, SSL Gujarat, SSL Bharat, SSL Mumbai, and SSL Thamirabarani. With the SSL Brahmaputra now included, Transworld has sold seven container vessels to Avana Logistek in 2024 alone, effectively unwinding the shipowning portfolio that was carved out of the 2020 DP World acquisition.

The ongoing fleet sales represent another chapter in the intertwined history of the two companies. In 2020, DP World's Unifeeder subsidiary agreed to acquire Avana Logistek, Transworld Feeders FZCO, and the Indian coastal and EXIM feeder operations of Shreyas. However, the shipowning and bulk shipping businesses were excluded from that transaction.

That deal closed in July 2021, leaving Shreyas — since renamed Transworld Shipping Lines — retaining ownership of the vessels while the containerships continued trading on charter to Avana. The current wave of sales transfers that residual vessel ownership to the operator already chartering them, consolidating DP World's feeder network under direct asset control. Avana Logistek, headquartered in Dubai, is part of DP World's feeder and regional shipping network, which operates across the Indian subcontinent, the Middle East, and East Africa.