More moves in the global feeder market!
According to a statement put out by the company, HICO Investment Group has purchased Bengal Tiger Line (BTL) and, according to Splash247, a majority stake in Caribbean Feeder Services (CFS). HICO was established in 2021 by Mr. Tim Hartnoll, Executive Chairman of X-Press Feeders, the world’s largest common feeder carrier (80+ ships able to carry 130,000 TEU).
CFS, operating thirteen ships totalling 16,000 TEU in capacity is active in the Caribbean feeder trades. It was purchased by Perez y Cia of Spain in late 2018. BTL, offering feeder services to/from/within the Bay of Bengal with a fleet of six ships totalling 10,000 TEU, was acquired a few weeks later by investment fund CMIA Capital Partners. It is believed that the two companies will be maintained as separate brands.