Logistics company Aquarius Shipping International has sold a 60% stake to CWT Europe, the European arm of CWT Commodities – Singapore.
“Although we have ceded the controlling share of the company to CTW, there is an agreement in place which will ensure that the day to day running of the company will remain under the control of Aquarius Shipping,” ASI MD Robert Poverello told FTW Online yesterday.
The current staff will all be retained under the new structure, he added.
“Together with CWT, we envisage new synergies that will greatly grow the reputation of Aquarius Shipping and offer us the ability to expand and strengthen our standing on a global platform.”
Singapore-based CWT is a provider of integrated logistics solutions for worldwide customers in the commodities, chemical and petrochemical, marine, oil & gas, defence and industrial sectors.
