DP World to acquire Mumbai-based Shreyas Shipping and Logistics

17 July 2020 (Last Updated September 8th, 2020 03:29)

Port operator DP World is in talks to acquire Shreyas Shipping and Logistics and Avana Global Logistek from Dubai-based Transworld Group.

DP World to acquire Mumbai-based Shreyas Shipping and Logistics
DP World has acquired a majority stake in TIS Container Terminal in Ukraine. Credit: DP World.

Port operator DP World is in talks to acquire Shreyas Shipping and Logistics and Avana Global Logistek from Dubai-based Transworld Group.

The port operator is in advanced talks for the acquisition.

The financial details of the transaction have not been revealed. The deal would mark DP World’s third container feeder sector acquisition in two years.

In August 2018, DP World signed an agreement to acquire Denmark-based port-related logistics solutions provider Unifeeder Group for €660m ($762.6m).

In December last year, Unifeeder bought a 77% stake in Feedertech Group that provides feeder services to ports in South East Asia, the Middle East and the Indian subcontinent.

DP World is the only foreign port operator that manages six terminals at Mundra, Jawaharlal Nehru Port Trust, Chennai, Cochin and Vizag.

Last month, DP World completed the acquisition of a 51% share in TIS Container Terminal in the Port of Yuzhny in Ukraine.

Meanwhile, Dubai Maritime City Authority (DMCA) has permitted the resumption of crew changes at all ports and anchorage areas in the emirate. The crew changes will take place in accordance with the Covid-19 guidelines and requirements.

Additionally, Dubai Customs has launched a transit trade guide to enhance Dubai’s position as a regional and global transit trade hub.

In a separate development, India’s Cochin Shipyard Limited (CSL) signed contracts to construct and deliver two autonomous electric ferries for Norwegian ASKO Maritime.

The contract also includes an option for the delivery of two additional identical vessels.

The 67m-long vessels will be first supplied as full-electric transport ferries that feature a 1,846 kWh capacity battery.

After the commissioning of autonomous equipment and field trials, it will resume operations as a completely autonomous ferry that can transport 16 Standard EU trailers in one trip across the fjords.

Naval Dynamics Norway will design the vessels, using Kongsberg Maritime systems, while CSL will carry out the detailed engineering.

In a different development, Indian Union Minister of State for Shipping Mansukh Mandaviya inaugurated the first trial container ship from Kolkata in West Bengal to Agartala in Tripura via Bangladesh’s Chattogram Port.