The transaction value is less than 1 percent of DP World’s net asset value (NAV) and is expected to close in Q1 2020.
Ali Maghami, the founder of Feedertech will retain the remaining 23 percent and remain involved in the business.
Unifeeder will now have the capability to offer feedering and regional short-sea connectivity in Northern Europe, Mediterranean, Northern Africa, Asia, and the Indian subcontinent.
Founded in 2003, the Singapore-based company operates two businesses - Feedertech, which is an independent feedering service; and Perma, a regional short-sea network.
Both operate in the same market and connect the fast-growing trade route of Asia-Middle East via the Indian subcontinent.
This transaction will broaden the group’s feedering and short-sea product offering to multiple geographies and further enhance DP World’s logistics capability to offer an end-to-end solution to both the shipping lines and cargo owners.
Unifeeder, through its Unifeeder ISC (Indian Subcontinent) platform, a majority owned subsidiary of DP World, announced the acquisition of Transworld Feeders FZCO, Avana Logistek, including its subsidiary Avana Global FZCO, and Transworld Feeders Pvt.
Ltd., the containerised Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics, excluding vessels and bulk operations.Transworld Feeders FZCO and Avana Global FZCO are leading independent feeder and non-vessel operating common carriers (NVOCC) operators, offering container feedering services and regional trade solutions connecting a wide range of ports in the Middle East, the Indian Subcontinent and Far East through their dense network.
The central hub port at Jebel Ali plays a pivotal role for a large part of the services.
Both the companies have a strong presence within trade routes west of the Indian Subcontinent and complement the recent acquisition of Feedertech and Perma Shipping, which have a strong market position in the trade routes towards the east of the Indian Subcontinent.https://www.logupdateafrica.com/dp-worlds-subsidiary-acquires-transworld-shipping
