Transworld signs record shipbuilding contract
Transworld Group of Companies (TGC), an international logistics and shipping specialist, announced in December that it had awarded a US$80 million shipbuilding contract to Guangzhou Wenchong Shipyard (GWS) in a ceremony held at the company's headquarters in Jebel Ali Free Zone, Dubai.
The group is aiming to strengthen its fleet to address the growing demand for sea cargo transportation and fully leverage the booming shipping and maritime industry in the Middle East.
The 175 metre ships are custom-built with two 45-tonne safe working load cranes and are designed to hold a maximum capacity of 1740 TEU and speed limit of up to 21 knots. The vessels are suited for TGC's primary short sea routes that provide a weekly connection for container trade from India, Pakistan, Bangladesh, Colombo, and the Middle East to Hub port of Jebel Ali.
"With the trade growth in the Middle East region growing six to seven per cent annually due to the emergence of shipping powerhouses such as India, which has registered 11 per cent growth this year, we can expect more increases in business activities within the region, thereby fuelling the need for efficient logistics and shipping solutions," said Ramakrishnan, chairman, TGC.
The contract, which was signed by company officials including He Fang, deputy director, China Shipbuilding Trading Company, and Yin Xueming, chairman, GWS, outlines schedule of delivery for two feeder container vessels. Also present at the ceremony was H.E. Venu Rajamony, Consul General of India in Dubai.
"To be able to address the ever-increasing requirements and demands of the regional trade, we have commissioned Guangzhou Wenchong Shipyard (GWS) to work on the single largest order placed by our company this year, which will boost our fleet to comprise a total of 24 state-of-the-art vessels by 2011," added Ramakrishnan.
The rapid surge in sea and air freight movement in Dubai has geared the emirate towards becoming a major distribution and transhipment hub to serve destinations in India, Middle East, Africa and Europe.
In addition, the terminals in Dubai Ports are also undertaking significant infrastructural improvements to address the growth in traffic, which DP World have projected to reach 20 million TEU by 2010.
"As a result of the rapid growth of container trade in the region, it is only a matter of time before expansions within ports/terminals and the emergence of a dedicated multi-phase development for integrated logistics within the region begins to occur. We are optimistic that these developments will increase the efficiency across the industry, thereby saving our customers valuable time and resources through the timely delivery of their goods. We are looking forward to reaping the benefits of trade-friendly initiatives such as these, as we continue towards strengthening our own operational resources," concluded Ramakrishnan.