Logistics services provider DP World, through its step- down subsidiary Unifeeder ISC (Indian Subcontinent) platform, has announced the acquisition of three units of the Transworld Group for an undisclosed sum.
The units are Transworld Feeders FZCO, Avana Logistek Ltd.including its subsidiary Avana Global FZCO and Transworld Feeders Pvt. Ltd.
Transworld Feeders FZCO and Avana Global FZCO are independent feeder and NVOCC (Non-Vessel Operating Common Carriers) operators, offering container feedering services and regional trade solutions connecting ports in the Middle East, the Indian Subcontinent and Far East.
Both the companies complement the recent acquisition of Feedertech and Perma Shipping [by DP World] which have a strong market position in the trade routes towards the east of the Indian Subcontinent.
Transworld Feeders and Avana Logistek maintain a comprehensive coverage of all main ports, terminals and inland destinations in India.
“Both are market leaders in providing logistics solutions to cargo owners, traders, forwarders and shipping lines,” said DP World.
“Further, they will both complement and expand our ability to offer a broader range of India focused solutions. These new entities will continue to operate an asset-light structure as per the Unifeeder model, which delivers greater flexibility and efficiency for customers,” it said in a statement.
“These bolt-on acquisitions give us complete coverage in fast-growing markets between East Africa, Gulf and the wider Indian Subcontinent,” said Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World, in a statement.
“These new activities are in line with our strategy and complement our recent acquisitions of Feedertech and Perma Shipping. We now have the capability to offer superior connectivity between Asia, the Indian Subcontinent, the Middle East, and East Africa,” he said.
He said this greater scale and comprehensive network presence will allow DP World to reduce inefficiencies in the supply chains to the benefit of all our customers.
Transworld Feeders and Avana both handle approximately 1.2mn TEU per annum and operate in fast-growing markets.
The Unifeeder ISC platform will continue to operate an asset-light, independent common-user platform.
It has now has full-scale capability to offer feedering and regional trade connectivity in Northern Europe, Mediterranean, Northern Africa, Middle East, Indian Subcontinent and Asia.
“The acquisition of three of our portfolio companies, will provide DP World and Unifeeder ISC a robust platform to jointly deliver a more complete range of solutions to our customers,” said Ramesh S Ramakrishnan, chairman, Transworld Group and Shreyas Shipping & Logistics Ltd.
“We look forward to building on our continued legacy as a globally renowned independent shipping and logistics conglomerate. We look forward to our partnership and a prosperous future together [With DP World].”