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P. Manoj

New Delhi , Feb. 16

THE Transworld group is set to take a 4-6 per cent stake in India Gateway Terminals Pvt Ltd, the special purpose vehicle (SPV) floated by Dubai Ports International (DPI) to develop and operate the proposed international container transhipment terminal at Vallarpadam near Kochi port.

"Transworld is close to taking a small stake in the Vallarpadam ICTT. This is more of a value proposition to the project given Transworld's strength in feedering services. The discussions between DPI and Transworld are over and an announcement is expected soon," officials familiar with the negotiations told Business Line.

The entry of Transworld group will complete the shareholding structure of India Gateway Terminals wherein DPI will hold a majority stake of 74-76 per cent, Concor will have 15 per cent and local steamer agents Chakiat Agencies Pvt Ltd will hold 5 per cent.

The business of Transworld group encompass ship owning, ship agencies, ship management, freight forwarding, logistics, marine and container repairs, container storage, inland transportation, international trading, edible oils and event management.

Through Orient Express Lines, based in Dubai and Singapore, and India-based Shreyas Shipping Ltd (the first full-fledged container feeder shipping company in India), the group owns container ships of sizes up to 1,250 TEUs, operating short sea container feeder services between Indian and subcontinent ports as well as linking various Indian ports with key container transhipment terminals around the subcontinent where larger vessels of main lines are to call.

As Indian ports do not possess the wherewithal in terms of infrastructure and geographical latitude to accommodate large main line vessels, a huge majority of the Indian containerised trade has to perforce move only with feeder service arrangements.

Global container lines rely exclusively on feeder container ships for profitability of operation.

Orient Express Lines provides feeder services between Singapore, Tanjung Pelapas and Port Klang, and Chittagong, Mongla, Vizag, Colombo, Tuticorin, Kochi, Nhava Sheva, Karachi, and West Asia.

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