Dubai’s Transworld forms JV Fleet Management to provide ship management services

Dubai-based shipping and logistics firmTransworld and Hong Kong-headquartered Fleet Management will establish a ship management JV dubbed Transworld Fleet Management to offer technical management services for Transworld’s fleet, which include container vessels, bulk carriers, and tankers, according to a press release. The statement did not disclose the breakdown of the shareholder ownership of the JV.

The details: The JV will see Transworld and Fleet employees cooperating in India, Hong Kong, Dubai and Singapore, the press release said. The JV will also provide ship management services to other vessel owners in the region.

What they said: “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,” Transworld Chairman Ramesh Ramakrishnan said.