Transworld and Fleet in ship management joint venture

The new joint venture Transworld Fleet Management is to provide dedicated technical management services to Transworld Group’s diversified fleet which includes container vessels, bulk carriers, and tankers, as well as associated and affiliated vessels.

Transworld Group Chairman Ramesh S. Ramakrishnan said the joint venture would allow the company to focus on its shipowning business.

“Fleet has managed a number of our vessels over the past year, and this joint venture is a natural progression in our working relationship as we continue to add to our ship ownership portfolio, particularly in tankers,” Ramakrishnan said.

The joint venture structure will involve Transworld Group and Fleet working closely together in India, Hong Kong SAR, Dubai and Singapore.

“We share a similar philosophy in striving to manage our businesses in ways that create positive change – meaningfully contributing to the opportunities ahead for us all,” said Harry Banga, Chairman of Caravel Group, Fleet’s parent company.