Transworld Group takes Japanese handy bulker

UAE’s Transworld Group has announced the acquisition of 2011-built handy bulker Asahi Maru from Japanese owner Yokoyama Kaiun.

The Japanese-built 47,100 dwt vessel has been renamed TBC Passion. No price was given for the sale, with VesselsValue placing a valuation on the vessel of $11.57m.

Traditionally a feeder boxship owner and operator, Transworld Group has been expanding its bulker fleet recently. This latest acquisition comes shortly after the company bought another handy bulker, Turquoise Ocean, from Japanese owner Santoku Senpaku.

The company said the recent investments are a result of its strong belief in the bulk carrier market and handies, while it also plans to keep a close eye on the S&P markets for further opportunities.

“This new addition to the fleet will further entrench our global footprint of shipowning in the dry bulk/ container segment and deployment, which is a result of strong fundamentals and confidence in the growth of shipping and logistics sector,” said Ramesh Ramakrishnan, chairman of Transworld Group.

The fleet of Transworld Group now stands at 25 vessels.