Shreyas Shipping & Logistics Ltd has sold its vessel `M V OEL Aishwarya` for USD 972,637.20. The company is facing the heat of global financial crisis and posted record losses in the September quarter of this financial year.

The funds from recent sell out would help to overcome liquidity problem being faced by company following global financial crisis.

The company posted loss of Rs 19.46 million in the reporting quarter while recorded profit of Rs 60.31 million in the same quarter last year. Its net sales registered an increase of 30.55% to Rs 539.58 million.

The shares of company declined 1 per cent and traded at Rs 25.20 at the recent trading at Bombay Stock Exchange. Total of 1101 shares were traded against two week average of 2423.