DP
World-owned Unifeeder is making a
significant expansion into the Middle East and Indian sub-continent markets
acquiring Transworld
Feeders FZCO and Avana Logistek Limited.
The move sees DP World continuing
its expansion in the feeder and logistics sector via Unifeeder, which it
acquired in 2018.
The acquisition by Unifeeder ISC
(Indian Sub-continent) includes Avana Global FZCO, and Transworld Feeders Pvt
Ltd, the containerised Indian coastal and the EXIM feeder shipping operations
of Shreyas Shipping and Logistics Limited, excluding vessels and bulk
operations. Avana Logistek and Avana Global cover 60 ports, while Transworld
Feeders and Shreyas Shipping and Logistics cover 53 ports, reports Colchester's Seatrade Maritime
News.
Group
chairman and CEO of DP World, Sultan Ahmed Bin Sulayem, said: "Our Unifeeder ISC platform will
continue to operate an asset-light, independent common-user platform, as we
continue to build the Unifeeder brand, which is best known for efficient connectivity,
flexibility, and reliability.
"Unifeeder now has
full-scale capability to offer feeder and regional trade connectivity in
Northern Europe, Mediterranean, Northern Africa, Middle East, Indian
Subcontinent and Asia."
Transworld Feeders and Avana
Global are independent feeder and non-vessel
operating common carriers (NVOCC) covering
ports in the Middle East, Indian Sub-continent and Asia, including a hub in
Jebel Ali. Founded in 1982 the two companies handle approximately a combined
1.2 million TEU a year.
CEO of
Unifeeder Group, Jesper Kristensen,
commented: "We are excited to be united with a company that shares our
values. Transworld Group's asset-light business model and continuous goal to be
the preferred business partner for logistics solutions is in perfect line with
the Unifeeder way of working.
"Both Unifeeder Group and
Transworld Group have always aimed for the best solutions for our customers,
and with this expansion, we will increase the logistics capabilities of both
groups, which delivers greater flexibility and efficiency for our
customers."
The acquisition further
strengthens Unifeeder's presence in the Middle East and Indian sub-continent
regions having taken a 77 per cent stake in Singapore-headquartered Feedertech
Group in 2019.
Commenting on the acquisition Ramesh S Ramakrishnan,
chairman of the Transworld Group,
said: "Our strength lies in our strong customer relationships, local
expertise, and network across the Indian Sub-continent, which have allowed us
to deliver an efficient product to the market. The acquisition of three of our
portfolio companies, will provide Unifeeder ISC with a robust platform to
jointly deliver a more complete range of solutions to our customers."
Source : HKSG.
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