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DP World in advance talk to acquire India’s Shreyas Shipping

DP World Shreyas Shipping
Shreyas Shipping is the Indian flagged vessel owning unit of Transworld Group

Global port operator and logistics company DP World is in advance talks with India-based Shipping and Logistics and Avana Global Logistek from Dubai-based Transworld Group, the media reported.

Shreyas Shipping is the Indian flagged vessel owning unit of Transworld Group, running a fleet of 13 ships, the largest along the Indian coast.

Reportedly, Shreyas Shipping, which is based in Mumbai, has a market share of over 90 percent in the export-import (EXIM) transhipment business and more than 52 percent in the domestic container business.

Over the years, DP World has made a number of acquisitions in the container feeder segment. Shreyas Shipping will be DP World’s third acquisition in two years.

Last month, DP World has completed the acquisition of a 51 percent stake in TIS Container Terminal in the Port of Yuzhny in Ukraine.

According to DP World, the acquisition of TIS Container Terminal will help the company expand its operations as well as strengthen TIS Container Terminal as one of the key market-leading purpose-built terminals in Ukraine by leveraging DP World’s global network of ports, economic zones, warehousing, and inland logistics solutions.

The acquisition marks DP World’s second major partnership with TIS shareholders, the first being with P&O Maritime Ukraine.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World told the media, “Today ushers in a new and promising era, as we expand our global portfolio in Ukraine. We are excited about this important milestone and this acquisition supports our long-lasting commitment to enabling global trade.”

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