Transworld Group and Fleet Management announce new ship management joint venture

Maritime leaders Transworld Group and Fleet Management (FLEET) have formed a new ship management joint venture: Transworld Fleet Management.

This will provide dedicated technical management services for the Transworld Group’s diversified fleet, which includes container ships, bulk carriers and tankers in addition to Transworld associated and affiliated vessels. The new company would thus also support many other shipowners in the region and offer them value-added ship management services.

Ramesh S. Ramakrishnan, Chairman of Transworld Group, said the joint venture would allow the company to focus on the ship ownership aspect of its business while leveraging FLEET’s technical ship management expertise to a greater extent.

“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 expand our vessel ownership portfolio, particularly in the tanker space,” said Mr. Ramakrishnan.

“We expect significant support from FLEET’s technical, operational and quality, health, safety and environmental teams to ensure efficient management, including ongoing compliance with regulatory requirements and the use of a wide range of digital capabilities,” he added.

Harry Banga, Chairman and CEO of FLEET’s parent company, The Caravel Group, said he was confident in the success of the joint venture partnership due to the shared company values ​​and family business background.

“We share a similar philosophy and strive to manage our companies to create positive change and make a meaningful contribution to the opportunities that lie ahead of us all,” said Dr. banga

“Our FLEET team is committed to supporting Transworld Group in increasing their ship ownership and further expanding in this area.”

As part of the joint venture structure, employees from Transworld Group and FLEET in India, Hong Kong SAR, Dubai and Singapore will work closely together.

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