Issue link: https://maltatoday.uberflip.com/i/1379774
4 NEWS 3.6.2021 MARINER Shipping Services has ac- quired freight forwarder Tubeline Ltd for an undisclosed amount as it expands its portfolio of services and widens its global reach. Tubeline specialises in airfreight, inter- national and domestic express courier services, customs brokerage and project cargo. It is the Maltese partner for DSV Panalpina, the world's third largest sup- ply chain solutions company, time:mat- ters, an express courier service operated and owned by Lufthansa, and Pharma Freight, which specialises in express freight of pharmaceutical products. e expansion will allow Mariner Shipping to offer more comprehensive logistics solutions to customers of both companies. Mariner Shipping is the shipping and logistics arm of the Hili Group and is also the partner for both Malta and Lib- ya of Unifeeder Group, an independent company within the DP World Group. Karl Naudi, managing director at Mar- iner Shipping said the company was ex- cited to welcome Tubeline's customers, employees and partners. "Our two companies will certainly achieve more together, enhancing the value for our clients. is deal is a new milestone for Mariner and through it we shall deliver an even wider range of services that our customers deserve and rely on," Naudi said. Hili Company CEO Edward Hili said Mariner Shipping has been a key driv- er of the growth of the group's business over the last couple of years. "e acquisition of Tubeline is yet an- other string in our bow, strengthening our service offering and widening our market reach. We are very proud to have been given the opportunity to in- tegrate such a reputable brand into our portfolio," Hili said. Tubeline was founded by Michel Li- cari, who ran the company for over four decades, building strong partnerships with global players in the logistics and transport sectors. Mariner Shipping acquires Tubeline Hili Company subsidiary Mariner Shipping acquires freight forwarder Tubeline Ltd FOLLOWING the contract awarded to Medserv Egypt by BP Exploration for the provision of material and warehouse management services announced to the market on the 28 January 2021, Medserv plc has announced that Medserv Egypt has been awarded a second contract by BP. is contract, for the Integrated Facility Management of the West Nile Delta Site in Idku, Egypt represents the largest award in value terms secured by the Company in Egypt to date. e contract will take effect in June 2021 for a term of three years with an option for BP to extend the term by a further year. It is expected that this con- tract will be serviced through Medserv's internal resources and will not require major capital expenditure. e Company continues to secure new business in this significant and growing Eastern Mediterranean energy bloc. In addition, last week the Company also published its interim report. e results for the first half of year 2021 continue be- ing impacted by the COVID-19 pandem- ic particularly in the offshore drilling pro- jects. is was mainly due to the inability to provide a safe working environment, consequent to travel bans and closure of ports imposed by Governments. Major projects for which the Company is al- ready contracted are expected to resume in the majority of its operating regions before year end with increased activity and volume in year 2022. ese energy projects are of a long-term nature and re- quire integrated logistics support services throughout the project life cycle. Despite the turmoil experienced in these last twelve months Medserv has strengthened its business pipeline both organically and through acquisition and continues to maintain its growth trajec- tory. Apart from establishing a footprint in Sub-Saharan region through the pro- posed transaction with Regis Holdings Limited as announced last month, the Company continues to participate in tendering opportunities both in Suri- name and neighbouring countries. e Company's objective is to contin- ue to deliver value to its customers. is current environment demands a new operating model of better collaboration and integration across all the players within the supply chain. e proposed consolidation of Med- serv and Regis, two similar groups op- erating in two different geographical markets, will strengthen the new Com- pany's market position and broaden its geographical footprint in strategic loca- tions around the Mediterranean region, in the Middle East, Sub-Sahara Africa and Suriname. e global reach of Medserv – Regis will be in four continents, present in twelve countries and operating twelve bases. e transaction will also allow the Company to restructure its debt as the Company's equity base will significant- ly improve as new cash is injected. e gearing level will reduce, offering the Company various options to finance its growth. Medserv awarded Integrated Facility Management service contract in Egypt