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Introducing Transworld Fleet Management

Introducing Transworld Fleet Management

Transworld Group and Fleet Management (FLEET), both leading maritime companies, have joined forces to create a new ship management joint venture called Transworld Fleet Management.

The main purpose of this joint venture is to offer dedicated technical management services to Transworld Group’s diverse fleet, which includes container vessels, bulk carriers, and tankers, as well as vessels associated with Transworld and its affiliates. Additionally, the newly formed venture aims to extend its value-added ship management services to numerous other shipowners in the region.

According to Ramesh S. Ramakrishnan, Chairman of Transworld Group, the collaboration allows the company to concentrate on the ship ownership aspect of their business while leveraging FLEET’s technical ship management expertise on a broader scale. Mr. Ramakrishnan mentioned that FLEET has already managed several of their vessels, making this joint venture a natural progression in their working relationship, especially with the ongoing expansion of their ship ownership portfolio, particularly in the tanker sector.

Furthermore, Mr. Ramakrishnan expressed confidence in receiving substantial support from FLEET’s technical, operational, and quality, health, safety, and environment teams. The primary focus would be on ensuring efficient management, strict adherence to regulatory requirements, and utilizing a wide range of digital capabilities.

Harry Banga, Chairman and CEO of FLEET’s parent company, The Caravel Group, echoed the sentiment of a successful partnership due to shared corporate values and backgrounds as family-run businesses. He highlighted their common philosophy of managing businesses to create positive change and meaningful contributions to future opportunities.

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The joint venture will be structured to foster close collaboration among Transworld Group and FLEET employees in India, Hong Kong SAR, Dubai, and Singapore. This collaborative effort aims to capitalize on the strengths of both companies and pave the way for a prosperous future in the maritime industry.

MMJ News Desk
Author: MMJ News Desk

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