Two units of Dubai-based Transworld Group including a feeder boxline are being widely reported as close to being bought by acquisitive DP World, the rapidly transforming terminal operator.
Dubai-headquartered DP World is being tipped to buy Shreyas Shipping and Logistics and freight forwarder Avana Global Logistek. Shreyas has 13 Indian-flagged ships in its fleet and would represent the third feeder outlet DP World has bought in recent years, going alongside Scandinavian Unifeeder and Singapore’s Feedertech.
DP World also bought OSV operator Topaz Energy & Marine 12 months ago.
The company has diversified dramatically in recent years and has had a strong focus on Indian investments.
“DP World’s vision is to become the leading end-to-end supply chain solutions provider. Our smart logistics and feedering and shortsea services, combined with our network of ports, terminals and storage facilities around the world, together with our increasing logistics capabilities on land, as we own rail services in Europe and India, mean that we can offer truly innovative solutions to our customers,” Sultan Ahmed Bin Sulayem, the CEO of DP World, said last month.
A spokesperson for DP World declined to comment on the market speculation when contacted by Splash today, adding: “We keep looking at opportunities wherever they may be.” Splash has yet to hear back from Transworld.
Commenting on the potential acquisition, Andy Lane from Singapore-based CTI Consultancy told Splash: “This one makes a little more sense that the previous feeder acquisitions as Transworld does own the majority of the vessels which it operates, so you are buying assets.”