Transworld Group, the Global Shipping & Logistics Group, has further enhanced its presence in the bulk carrier business with the acquisition of a handysize, MV Asahi Maru (to be renamed as mv TBC Passion) from Japanese owners. This follows close on the heels of the very recent acquisition of MV Turquoise Ocean (since renamed mv TBC Prime), a modern 38k handysize bulker, also from Japanese owners. The Capex investments are a result of the company’s strong belief in the bulk carrier markets and specifically the smaller workhorse handies.
With the 2 new acquisitions, the bulk handies fleet is now 5 strong and as Transworld keeps a close eye on the S&P markets for further opportunities, the company expects the company to emerge as a strong global player in this time-tested segment.
Earlier Transworld Group had acquired 3 new built handysize vessels from Chinese shipyards and deployed them on a world-wide trading pattern on long term charters as a part of its diversification strategy from feeder-container ships, a segment it has been present in for over 4 decades.
On this occasion, Mr. Ramesh S. Ramakrishnan, Chairman, Transworld Group said that this new addition to the fleet will further entrench our Global footprint of Ship Owning in the Dry Bulk/ Container segment and deployment, which is a result of strong fundamentals and confidence in the growth of Shipping and Logistics sector.
Historically a feeder vessel owner and operator, the company’s container vessel fleet has also grown exponentially in carrying capacity with the container fleet currently standing at 20 vessels of which 12 Indian flagged feeders are part of its Indian coastal services. With the latest acquisition of mv OEL Badrinath, a 5000 teu Panamax container vessel, the company has put its footprint on long haul sectors through leading main line operators. With the introduction of the five bulkers, the total fleet of Transworld Group now stands at 25 vessels.