17-Sept-2026 23:42:15
TRANSWORLDGeneral news
TRANSWORLD SHIPPING LINES : FORMS JV WITH BAINBRIDGE NAVIGATION DMCC IN UAE
• Joint Venture Agreement executed with Bainbridge Navigation DMCC, Dubai, UAE. • Objective is to establish and operate a JV company in UAE for shipping pool business focused on Handysize vessel segment. • Transworld Shipping Lines Limited (TSLL) to hold 60% and Bainbridge Navigation DMCC to hold 40% of the JV. • TSLL will subscribe to 75 ordinary shares aggregating AED 75,000; Bainbridge Navigation DMCC to subscribe to 50 ordinary shares aggregating AED 50,000. • JV company will be regulated under the laws of the United Arab Emirates. • Parties are not related to promoter/promoter group/group companies. Impact: JV to focus on Handysize vessel segment in UAE.
Transworld Shipping Lines Ltd
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