Inchcape Shipping Services is pleased to announce the successful completion of a strategic divestment of its Freight Forwarding business following its sale to Investment Corporation of Dubai. This follows a strategy review where it was concluded that due to limited synergies, the Marine and Freight Forwarding businesses should operate separately.
Inchcape Shipping Services remains under the ownership of Istithmar World PJSC.
The completion of this transaction now allows Inchcape Shipping Services to focus solely on the Marine Services and Port Agency business. Capitalising on a unique global network combined with cutting edge digital solutions, the “Inchcape 360” offering connects the shipping world to a smoother, smarter ocean, generating transparency and service excellence.
Frank Olsen, CEO of Inchcape Shipping Services, comments: “With our renewed focus on our core Marine business, a unique network and the best people in in the business, we are very confident about or ability to provide service excellence to our customers. Combined with our digitalisation and business transformation initiatives, we will drive positive changes in our industry”.