GUJ-21-08-2020

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Vol. XXVI No. 88 FRIDAY 21st AUGUST 2020

MUMBAI : (022)22661756, 22691406/07/4491

GUJARAT + NORTH INDIA

AHMEDABAD : (079)26405551/52, E-Mail:ahmedabad@dstnews.net

See Pg. 3

www.dst.news

KANDLA : (02836)222665/225790, E-Mail:kandla@dstnews.net

Transworld Group announces Milestone Agreement with DP World DUBAI/MUMBAI: Transworld Group announces a historic milestone in its Forty Five-year legacy, with a strategic partnership with DP World and its subsidiary Unifeeder Group, strengthening its position as a leading Shipping and Logistics conglomerate. Unifeeder, through its Unifeeder ISC platform, will acquire (subject to regulatory approvals) three business units of Transworld Group, i.e. Transworld Feeders FZCO, Avana Logistek Limited (including its subsidiary Avana Global FZCO), and Transworld Feeders Pvt. Ltd. (the containerized Indian coastal and Export Import Feeder Shipping operations of Shreyas Shipping and Logistics Ltd, excluding vessels and bulk operations). Cont’d. Pg. 4

Mr. Ramesh S Ramakrishnan, Chairman of Transworld Group and Shreyas Shipping and Logistics Limited and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World during the signing ceremony.

Strong performance by A.P. Moller - Maersk in Q2 despite COVID-19 impact C O P E N H A G E N : In Q2 2020, A.P. Moller - Maersk improved profitability across all businesses through agile capacity deployment, cost mitigation initiatives and adaption to changed customer needs. The earnings improvement was achieved despite the sharp drop in global volumes following the COVID-19 crisis. “As expected, the second quarter was materially impacted by COVID-19 and our focus remained on protecting our employees from the virus, serving our customers by keeping our global network of ships sailing and our ports, warehouses

Atit Mahajan becomes the Managing Director of CMA CGM INDIA MUMBAI: The CMA CGM Group, a World Leader in Shipping and Logistics, announced the appointment of Mr. Atit Mahajan as the new Managing Director for CMA CGM INDIA. With an extensive industry experience and strong leadership abilities in Indian shipping & logistics sectors, Atit Mahajan has taken over the position from August 1st, 2020. Mr. Atit Mahajan Mr. Mahajan is a qualified Chartered Accountant with a qualitative experience of 18 years in Strategy, Finance and Cost Management function. Prior to taking on the position of Managing Director – CMA CGM INDIA, Mr. Mahajan has ser ved as the Chief Financial Officer, CEVA Logistics India Pvt. Ltd and Chief Operating Officer, LCL Logistix, both subsidiaries of the Cont’d. Back Pg. CMA CGM Group.

APPOINTMENTS ..See Pg. 5

and inland transportation networks operating, and helping the societies we are part of fight the virus,” says Søren Skou, CEO of A.P. Moller – Maersk and continues: “I am pleased that we despite the headwinds, continued our track record of improving earnings and free cash flow. Our operating earnings improved by 25%, marking the e i g h t h c o n s e c u t i v e q u a r t e r w i t h y e a r- o n - y e a r improvements, driven by strong cost performance across all our businesses, lower fuel prices and higher freight rates in Ocean and increased profitability in Logistics & Services. Cont’d. Pg. 4


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