The proprietors of the larger rival X-Press Feeders have purchased BTL, a feeder container ship company based in Singapore. Schoeller Holdings and Transnaval Schiffahrt, the original shareholders of BTL, were acquired in 2018 by Singapore-based private equity firm CMIA Capital Partners. Bengal Tiger Line’s management structure won’t change as a result of the ownership move from CMIA Capital Partners to HICO, and regular operations will continue as usual without any interruptions, according to a statement from BTL. BTL was founded in Hamburg in 1986 and relocated to Singapore in 2009 for its registry and main office. The company uses chartered vessels to primarily conduct business in the Arabian Gulf, Southeast Asia, and the Indian subcontinent. In order to acquire CFS, HICO reached an agreement with Pérez y Cá Group, which will remain a significant stakeholder. With 16 ships and a total operational capacity of little over 16,000 slots, Caribbean Feeder Service (CFS) is a feeder service. The largest independent feeder operator covering the Caribbean, Central America, Colombia, and Venezuela is CFS, which was created in 1999. The Pérez y Cá Group acquired the business four years ago. Pérez y Cá teamed up with HICO in September 2021 to purchase Singapore-based Britoil Offshore Services. BTL and CFS follow an asset-lite approach and lease of their vessel capacity from third parties. In 1986, BTL merged in Hamburg, and in 2009, it moved its registry and main office to Singapore. The company uses chartered vessels to predominantly operate over the Indian subcontinent, Southeast Asia, and the Arabian Gulf. According to Alphaliner information, BTL now has an operating capacity of little over 10,000 teu, and its six ships have a ranking of 72 among the top 100 liner operators. In the meanwhile, Caribbean Feeder Service (CFS), which has 16 ships and a total operational capacity of little over 16,000 berths, is ranked as the world’s 53rd largest liner by Alphaliner. With Pérez y Cá Group, who will continue to be a prominent stakeholder, the Caribbean transaction was agreed upon. The largest independent feeder operator supplying was founded in 1999 under the name CFS.
