Unifeeder, the north European liner bought out by terminal operator DP World, has gone global, buying a 77% stake in Singapore’s Feedertech for an unspecified price.
Feedertech’s chairman, Ali Maghami, will retain a 23% stake in the 16-year-old company, which transports more than 600,000 teu a year with annual revenues of close to $200m.
“Both Feedertech and Unifeeder share similar business models and a desire to reduce inefficiencies, and by combining the expertise of the two entities, we believe we can deliver a high-quality product for our customers. Furthermore, being part of the DP World family, will allow us to benefit from their deep relationship with end-customers and wide global network,’’ said Maghami.
Through Feedertech and its subsidiary, Perma, Unifeeder now has the capability to offer feedering and regional shortsea connectivity in Europe, the Mediterranean, North Africa, Asia, the Middle East, and the Indian Subcontinent. It also enables opportunities in the fast-growing coastal short-sea trade on the Indian Subcontinent, complementing the existing India logistics strategy of DP World.
‘‘This is yet another strategic step in our vision to build a global presence, offer a broader network of solutions to customers and leverage the way we engage with them to create the most comprehensive and integrated solutions across multiple geographies. We are excited to be joining forces with a company that operates on the same values as us. Feedertech’s asset-light business model and approach to preserve the common-user independent platform that focuses on flexibility, reliability and providing sustainable logistic solutions, made it a clear fit for Unifeeder,’’ said Jesper Kristensen, CEO of Unifeeder.
Commenting on the news, Andy Lane from Singapore-based CTI Consultancy, told Splash: “It makes some sense if Unifeeder wish to go global as Feedertech has a reasonable Asian presence.”
Alphaliner data shows the Unifeeder fleet today stands at 56,654 slots while the Feedertech fleet has 28,839 slots. Combined the pair would leap into the world’s top 20 league.