Trans Transport Corporation of India Ltd. announced that the company had informed about the execution of a definite agreement for building of two Cellular Container Vessels of approx. 7300 MT DWT each for a total contract price of approx USD 34 million. The company announced that after mutual agreement with the ship builders, the Company has cancelled the proposed acquisition of vessels due to recent challenges in economic stability of the ship builders.

There have been no financial transactions entered so far and the cancellation is without any present or future financial liability on either of the parties.