Port operator DP World has been linked to talks to acquire Shreyas Shipping and Logistics (SSL) and freight forwarder Avana Global Logistek from Dubai-based Transworld Group.
The Hindu Business Line reported that "advanced talks" have taken place between the companies, although Shreyas is refusing to comment on the speculation.
Shreyas said it would "abide by its obligations to make appropriate disclosures as and when such disclosures are necessitated by decisions taken by the company".
Mumbai-headquartered Shreyas operates 12 containerships from 671 teu to 4,273 teu.
Eleven are owned by the company and one is chartered in.
The company is heavily focused on the Indian coastal trades where it is the largest privately-owned operator of Indian-flag ships.
Shreyas also offers feeder services to the Middle East and Bangladesh.
Third feeder acquisition
The touted bid by DP World for the Indian company would be its third acquisition of a boxship feeder operator in just two years.
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.
DP World recently highlighted its success in creating a feedering and shortsea network serving hundreds of ports across the globe.
"DP World’s vision is to become the leading end-to-end supply chain solutions provider and contribute to strengthening the position of the countries in which we operate," chief executive officer Sultan Ahmed Bin Sulayem said in a recent statement.
Transworld
Shreyas is controlled by Indian businessman Ramesh Ramakrishnan, the chairman of Transworld Group.
His company also operates another feeder business from Dubai called Orient Express Lines (OEL).
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).
