Search by Popular Categories


  • Consumer

  • Commercial

  • Construction

  • Industrial

  • Oil & Gas

COMMUNITY NEWS

Kanoo Shipping acquires Wallem South Africa

May 30, 2018 5:53 PM

Kanoo Shipping one of the largest regional shipping agencies in the Middle East has announced an agreement to acquire Wallem South Africa a provider of integrated maritime solutions in the cities of Durban...

 View company Profile

Kanoo Shipping, one of the largest regional shipping agencies in the Middle East, has announced an agreement to acquire Wallem South Africa, a provider of integrated maritime solutions in the cities of Durban and Cape Town.

Kanoo Shipping is a business division of Yusuf bin Ahmed Kanoo Group, one of the largest, independent family-owned multinational businesses in the Middle East with an extensive portfolio of complementary business units and strategic partnerships across a range of industry sectors.

Wallem South Africa, now Kanoo Africa PTY LTD, was part of The Wallem Group, a leading provider of ship management, ship agency, ship broking, commercial vessel management and freight and logistics, said a statement from the company.

The strategic acquisition by the fully owned business division of Yusuf Bin Ahmed Kanoo Group (YBA Kanoo) will give it access to all South African ports as well as clients in Mozambique, Namibia and other destinations in the southern parts of the Indian Ocean, it said.

Fawzi Ahmed Kanoo, the acting CEO of YBA Kanoo Group, said: “The due diligence we performed prior to the acquisition made us confident that we are buying an excellent business in all aspects.”

“Wallem is a reputable name in the maritime industry and acquiring its operations in South Africa will be a gateway for Kanoo Shipping into the continent of Africa,” he said.

“At the group level, YBA Kanoo’s Shipping and Logistics business divisions will benefit from having a solid footprint in Africa which will reflect positively on the services they provide to their clients,” he added.

Handling its first vessel in 1911, Kanoo Shipping now operates in 20 countries, covering all principal ports and offshore tanker loading terminals around the Arabian Peninsula, including Iraq and assists with over 17,000 ship calls a year through a network that covers all ports from the Suez Canal to Sri Lanka and East/South Africa. 

COMMUNITY NEWS

GDN is here to stay, says Khamis Al Muqla Jun 12, 2018 10:12 AM

MANAMA: The Gulf Daily News (GDN) which together with GDNonline.com...

Ithmaar Bank’s retail banking subsidiary in Pakistan, Faysal Bank Limited, reports continued profits Jun 11, 2018 16:36 PM

MANAMA BAHRAIN 11 June 2018 Ithmaar Bank a Bahrain-based Islamic...

Batelco to give free Wi-Fi at Seef Mall Jun 10, 2018 09:46 AM

MANAMA: Batelco a leading digital communications solutions provider...

VIVA launches live 5G demonstration Jun 10, 2018 09:20 AM

MANAMA: Live streaming of 4K video self-driving cars and remote...

Kanoo Travel Jun 7, 2018 13:43 PM

Kanoo Travel Partners were honoured during its Ramadan Ghabga last...

Shaikh Abdulla is Batelco chairman Jun 5, 2018 09:49 AM

MANAMA: Bahrain Telecommunications Company (Batelco) has appointed...