Mr S Ramakrishnan, Chairman of Transworld Group,

Mr S Mahesh, Managing Director of Shreyas World Navigation and Orient Express Lines (Singapore) Pte Ltd,

Mr Tan Pheng Hock, President & CEO, ST Engineering,

Distinguished Guests, Ladies and Gentlemen,

It is my pleasure to join you this evening to celebrate the successful delivery of “OEL Singapore” to Shreyas World Navigation, the ship-owning subsidiary of the Transworld Group of Companies. 

2.                  When I joined the Ministry of Transport in 2004, Ramesh (Mr Ramakrishnan) and Mahesh were amongst the first shipowners whom I met. Orient Express Lines, a subsidiary of the Transworld Group, was then celebrating 20 years of container feedering services, and they had then informed me of their decision to order two new container vessels, of which “OEL Singapore” is the first to be delivered.

3.                  At that time, the shipping market was just recovering.  With ship prices at their high levels today, this decision has proven to be a well-judged one.  It is such foresight that has helped the Transworld Group of companies to grow from strength to strength over the years to a major container feeder player with an integrated transportation network spanning the Indian Sub-continent.

4.                  Indeed, the Transworld Group of companies, which includes Shreyas World Navigation and Orient Express Lines, have grown beyond Indian shores and today they have major operations in Singapore as well.  Since the establishment of its Singapore office in 2001, Orient Express Lines has expanded rapidly. It started operations with the Straits-Bangladesh service and has progressively added the Bangladesh-Colombo and Straits-India services. The company is a recipient of the Approved International Shipping Enterprise Certificate and is currently operating 11 vessels.      

5.                  Shreyas World Navigation has also grown.  From just one vessel in year 2000, it now owns four, with the delivery of another newbuild expected by September this year.  The vessel “OEL Singapore” itself is also very much a Singapore product, having been designed and constructed by ST Marine and now flagged with the Singapore registry. 

6.                  Transworld Group’s presence in Singapore will position it well for future growth.  I believe Singapore not only offers Transworld a good launch pad to the East Asian market, complementing its Indian office, but Singapore, with its thriving and international maritime community, can also offer Transworld a complete suite of maritime service providers to help Transworld grow as a global player in the maritime sector.  There is much opportunity for the Transworld Group to develop further its business relationships here and to expand its activities in Singapore.   On our part, the Maritime and Port Authority of Singapore will be at hand help facilitate this process whenever you need us. 

7.                  On that note, let me wish the Transworld Group of companies continued success in the years ahead.  I also look forward to the strengthening of your partnership with Singapore.

8.                  Thank You.