Van AalstTelestackViganSailors SocietyTBA GroupGeneva Dry
  • TMS Awards 2023
  • Vigan
  • Cimbria
  • TBA Group
  • Sailors Society
  • Van Aalst

New ship management joint venture announced

New ship management joint venture announced

(Posted on 14/07/23)

Leading maritime companies Transworld Group and Fleet Management (FLEET) have established a new ship management joint venture, Transworld Fleet Management.

This will provide dedicated technical management services to Transworld Group’s diversified fleet which includes container vessels, bulk carriers, and tankers, besides Transworld associated and affiliated vessels. The new venture

would thus also support and provide value-added ship management services to many other shipowners in the region.

Transworld Group Chairman Ramesh S. Ramakrishnan said the joint venture would enable the company to focus on the ship ownership aspect of their business, while utilising FLEET’s technical ship management expertise on a broader scale.

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

“We are anticipating significant support from FLEET’s technical, operational and quality, health, safety and environment teams to ensure efficient management, including ongoing adherence to regulatory requirements and the utilization of a broad range of digital capabilities,” he added.  

Harry Banga, Chairman and CEO of FLEET’s parent company, The Caravel Group, said he was cofident in the success of the joint venture partnership due to aligned corporate values and backgrounds as family-run businesses.   “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,” Dr. Banga said.

“Our FLEET team is committed to supporting Transworld Group as they ramp up their ship ownership and continue to expand in this space.”

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

Fleet Management (FLEET), part of The Caravel Group, is the second-largest ship management company globally, managing more than 650 vessels.

Transworld Group is a Global Shipping & Logistics Solution conglomerate, operating through the strong network of more than 40 own offices worldwide, with over 1000+ experienced professionals.

Latest News

DNV: Rapid WAPS uptake driven by stricter emission regulations

(Posted on 07/02/25)

A surge in industry interest combined with systems builders and yards scaling up production and installation... Read more


NSU Strengthens fleet oversight with Idwal

(Posted on 07/02/25)

Idwal is pleased to welcome NS United Kaiun Kaisha, Ltd. (NSU) as the latest partner to Idwal ID, our... Read more


Growing adoption of Wind-Assisted Ship Propulsion for sustainable shipping

(Posted on 07/02/25)

Econowind has surpassed 100 VentoFoil units sold, marking a major milestone in the shipping industry... Read more


Shipowners can shield against accidents by better learning from human factors

(Posted on 31/01/25)

The University of Strathclyde in Scotland, UK is encouraging ship operators, safety professionals and... Read more


InterManager elects Sebastian von Hardenberg as President

(Posted on 31/01/25)

InterManager, the international association for the ship management sector, has elected Sebastian von... Read more


Industry urged to share knowledge in cases of seafarer criminalisation

(Posted on 20/01/25)

InterManager, the international trade association for the ship management sector, is calling on shipping... Read more


INTERCARGO quality panel expansion enhances sector collaboration

(Posted on 19/01/25)

The International Association of Dry Cargo Shipowners (INTERCARGO) has announced a strategic development... Read more


DNV launches AROS

(Posted on 19/01/25)

DNV has launched a new family of class notations, Autonomous and Remotely Operated Ships (AROS), providing... Read more


Dry bulk industry pays tribute to outgoing INTERCARGO Chairman Dimitri Fafalios

(Posted on 10/01/25)

Leading figures across the dry bulk shipping sector have joined in paying tribute to Dimitri Fafalios... Read more


IMO Secretary-General sets his priorities for 2025 in new year message

(Posted on 07/01/25)

International Maritime Organization (IMO) Secretary-General Arsenio Dominguez has highlighted key items... Read more


CimbriaTMS Awards 2023Port of StocktonPort of South LouisianaBühler GmbH
  • Geneva Dry
  • Telestack
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping