Dubai-headquartered Transworld Group of Companies (TGC) has awarded an $80 million shipbuilding contract to Guangzhou Wenchong Shipyard (GWS).

The signing ceremony was held at TGC’s headquarters in Jebel Ali Free Zone.

TGC is an international leader in providing total logistics and shipping solutions. The move is in line with the group’s aim to strengthen its fleet to address the growing demand for sea cargo transportation and fully leverage the booming shipping and maritime industry in the region.

The contract, which was signed by top-ranking company officials including S Ramakrishnan, chairman, TGC; He Fang, deputy director, China Shipbuilding Trading Company; and Yin Xueming, chairman, GWS; outlines the delivery of two feeder container vessels that are ideally suited for container feeder trade. Also present at the ceremony was Venu Rajamony, Consul General of India in Dubai.

The 175-m ships are custom-built with two 45 SWL cranes and are designed with a maximum capacity of 1740 teu and speed limit of up to 21 knots. The vessels are fully compliant with requirements at different ports, and are particularly suited for TGC's primary operations, which comprise the short sea routes that provide a weekly connection for container trade from India, Pakistan, Bangladesh, Colombo, and the Middle East to Hub ports in Jebel Ali, Colombo, and Singapore.

“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, which has seen an exponential growth within the past years,” said S Ramakrishnan, chairman, TGC. “To be able to address the ever-increasing requirements and demands of the regional trade, we have commissioned Guangzhou Wenchong Shipyard 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.” – TradeArabia News Service