In a move that adds global muscle, logistics company Aquarius Shipping International has sold a 60% stake of its business to CWT Europe, the European arm of CWT Commodities – Singapore. “CWT will add new dimensions and fresh opportunities for Aquarius Shipping to cement itself as a major logistics player not only in Southern Africa but across the globe,” Aquarius MD Robert Poverello told FTW. He stressed that the day-to-day running of the company would remain under the control of Aquarius. CWT is a provider of integrated logistics solutions for worldwide customers in the commodities, chemical and petrochemical, marine, oil and gas, defence and industrial sectors. Through its global network, the CWT Group is able to connect customers to 120 ports and over 1 200 destinations seamlessly around the world, said Poverello. Headquartered in Singapore, it is the largest listed logistics company in Southeast Asia. The CWT Group offers commodities logistics services through its wholly-owned subsidiary CWT Commodities which specialises in the handling and storage of ferrous and non-ferrous metals, soft commodities, plastics and energy products.
