Dubai ports and shipping giant DP World has added more containership strings to it bow through a deal in India.
Its Unifeeder unit said it has agreed to buy Transworld Feeders, Avana Logistek and subsidiary Avana Global.
These are the Indian coastal and export-import feeder operations of Transworld-owned Shreyas Shipping & Logistics, but the transactions exclude ships and the bulk business.
Transworld Feeders and Avana Global are leading independent feeder and non-vessel operating common carriers. They handle 1.2m teu annually.
The deal gives Unifeeder a strong presence towards the west of the Indian subcontinent, and complements its recent acquisition of Feedertech and Perma Shipping in eastern trades.
Asset-light capture
"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," said Unifeeder CEO Jesper Kristensen.
The deal is expected to close in 2020.
Indian media linked DP World to a deal for Shreyas in July, but the actual agreement stops short of a takeover.
Mumbai-headquartered Shreyas operates 12 containerships from 671 teu to 4,273 teu.
Eleven are owned by the company and one is chartered in.
In 2018, DP World acquired Danish feeder operator Unifeeder, which is one of the largest operators in the European trades.
It followed that up last December by acquiring a 77% stake in the Feedertech Group, a Singapore-based feeder operator with services to ports in South East Asia.
Shreyas is controlled by Indian businessman Ramesh Ramakrishnan, the chairman of Transworld Group.
Transworld earlier this year acquired its largest vessel, the 4,872-teu OEL Badrinath (ex Ontario II, built 2009).
It is the third traditional panamax boxship operated by Transworld, which two years ago purchased the 4,252-teu sister vessels OEL Jumeirah and SSL Brahmaputra (both built 2003).
Ramakrishnan said the deal would give DP and Unifeeder a robust platform to jointly deliver a "more complete range of solutions to our customers."
