DP World's Unifeeder acquires Transworld and Avana Logistek
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
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.'