2GO Cargo Ship in Iloilo Strait with pumpboat

2GO also known as 2GO Group Inc. is a Philippines-based company engaged in transporting people and cargo using the fleet of inter-island

ferries A ferry is a ship, watercraft or amphibious vehicle used to carry passengers, and sometimes vehicles and cargo, across a body of water. A passenger ferry with many stops, such as in Venice, Italy, is sometimes called a water bus or water taxi ...

and cargo ships of the former Aboitiz Transport System, which owned the brands SuperFerry,

Cebu Ferries Cebu Ferries was a shipping company based in Batangas City and Cebu City, Philippines. Its hubs were Batangas Port in Batangas and Pier 4 in Cebu City. It is now part of 2GO Travel. Formerly the shipping company was a subsidiary of William Got ...

and

SuperCat The SuperCat Fast Ferry Corporation, commonly known as SuperCat, is a shipping company that operates a fleet of high-speed catamarans (HSC) in the Philippines. It is now part of Chelsea Logistics Holdings Corporation. Supercat was previously th ...

—and

Negros Navigation Negros Navigation Co., Inc. (NENACO) was one of the oldest domestic shipping companies in the Philippines. It was also one of the largest companies in the passenger transport business in the Philippines. Its main hub was the renowned Pier 2 in M ...

. The top two principal shareholders of the 2GO Group are SM Investments Corp, and Trident Investments. The company has the largest infrastructure in the Philippines with over 400,000 TEU capacity (approximately 50% market share of domestic Philippine freight), 16 passage and freight vessels, 15,000 containers, 35 warehouses nationwide, 550 trucks, and 7,000 employees.

Company history

The first precursor company to 2GO Group Inc. began on May 26, 1949 under the corporate name William Lines, Inc. Eventually, the Aboitiz Transport System was formed by, first, the breakup of WG&A SuperFerry into SuperFerry and Carlos A. Gothong Lines and then the merging of SuperFerry with

and

fast ferries to form the Aboitiz Transport System. On December 1, 2010, the former major stockholders of the company, namely

Aboitiz Equity Ventures Aboitiz Equity Ventures (AEV) is a Philippine holding company based in Metro Manila, with roots from Cebu City. The conglomerate operates in six major industries: Power, Banking and Financial Services, Food, Infrastructure, and Data Science and A ...

and Aboitiz and Company Inc. sold their shares to Negros Navigation Co. Inc. (NENACO), for US$105 million. The equity value included all the logistics and shipping businesses of the company, except its interest in its joint ventures with the

Jebsen Group Jebsen Group () is a marketing, investment, and distribution organisation founded in 1895. It is headquartered in Hong Kong with offices in Mainland China and Macau. It consists of six business lines: Beverage, Consumer, Industrial, Motors, Logi ...

of Norway. At the same time, December 2010, Negros Navigation announced that the China-Asean Investment Cooperation Fund acquired a controlling stake in the company through an

equity Equity may refer to: Finance, accounting and ownership * Equity (finance), ownership of assets that have liabilities attached to them ** Stock, equity based on original contributions of cash or other value to a business ** Home equity, the diff ...

infusion. The China-Asean Investment Cooperation Fund is a

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

-based,

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...

firm wholly owned and controlled by the

Government of the People's Republic of China The Government of the People's Republic of China () is an authoritarian political system in the People's Republic of China under the exclusive political leadership of the Chinese Communist Party (CCP). It consists of legislative, executive, mi ...

. Because Negros Navigation was a privately held firm the exact amount invested by the Fund was not disclosed. In short, the mainland Chinese government set up the China-Asean Investment Cooperation Fund, which then among other investments in the region took a controlling stake in Negros Navigation, which in turn purchased SuperFerry and related brands and re-branded itself 2GO Group.

Operations

As of August 2021, the shipping fleet owned by the company and its subsidiaries reached 10 operating vessels. The fleet consists of: 9 roll-on/roll-off (RoRo)/Passenger vessels and 1 freighter.

Notes

References

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External links

2GO Group official website
Logistics companies of the Philippines Shipping companies of the Philippines Companies listed on the Philippine Stock Exchange Companies based in Manila