Transworld enters the tanker segment

Dubai’s Transworld Group has diversified from its container origins into the tanker sector. The company, which also has a small dry bulk exposure, has bought two 74,000 dwt LR1 tankers, TTC Vidyut and TTC Shakti. The ships will work within Navig8’s LR8 pool.

Ramesh Ramakrishnan, chairman of Transworld, commented: “The acquisition of two tanker vessels is a testimony of our faith in the markets, our people, and our ability to grow and foray into new frontiers in the shipping and logistics industry.”

Transworld also owns a fleet of 25 vessels in the container and dry bulk segment under the Orient Express Lines (OEL) and Shreyas Shipping Limited (SSL) brands. The company’s handysize bulk carriers operate under the Transworld Bulk Carriers (TBC) brand.