AD Ports Group has acquired five bulk carriers and three crude oil tankers valued at Dhs955m (USD 260m) to expand its commercial shipping capabilities.
Abu Dhabi’s AD Ports Group, a global operator of ports and shipping solutions, has acquired five bulk carriers and three crude oil tankers, the move is part of the ports operator’s strategy to advance its portfolio of services.
General cargo and dry bulk cargo
The acquisition will aid in the movement of general cargo and dry bulk cargo between Fujairah Port in the UAE and Bangladesh, South-East Asia, the Indian subcontinent, and other global destinations. The vessels were acquired as part of a long-term agreement with Saif Powertec, signed in April 2022. Mohamed Juma Al Shamisi, managing director and Group CEO at AD Ports Group, said, “the extension of our fleet with the purchase of another five bulk carriers and the addition of an initial three crude oil tankers is a remarkable milestone for our maritime cluster.”
Saif Powertec and AD Ports’ feeder service SAFEEN Feeders will work together over the next 15 years to facilitate global trade and cargo services. The three crude oil tankers were purchased as part of a seven-year vessel pooling agreement formed in December 2022 with KazMorTransFlot. This subsidiary of Kazakh National Oil Company will help with the global transportation of crude oil, enabling AD Ports to develop a tanker fleet to support the export of Kazakh oil.
Global expansion efforts
AD Ports’ Global Expansion These acquisitions follow the recently signed agreements as part of AD Ports’ strategic global expansion to enhance its shipping division under its subsidiary, Maritime Cluster. In March, AD Ports signed an agreement with Congo to develop, operate, and manage a new multipurpose terminal in Pointe-Noire. The company also signed a 30-year concession agreement to develop, manage, and operate the Egyptian multi-purpose terminal in the Red Sea port of Safaga.
AD Ports Group – Egyptian operations
AD Ports has partnered with the Suez Canal Economic Zone to develop several projects in ports within the economic zone as the port operator is bolstering its operations in Egypt. The acquisition of Spanish logistics firm Noatum for USD 680m in November 2022 gave the ports operator exposure to maritime and logistics activities in the Mediterranean as well as port facilities in the European nation. AD Ports has also built new strategic partnerships to develop connectivity between the GCC region, the Indian Ocean, the Red Sea, East Africa, and Central Asia.
AD Ports Group’s acquisition of new vessels is part of its expansion strategy to enhance its shipping division and advance its commercial shipping capabilities. This move supports international trade, enhances connectivity, and provides a solid foundation for growth in important markets. AD Ports’ global expansion is aimed at bolstering its operations in various countries, enhancing connectivity, and boosting economic growth in the region and internationally.
AD Ports Group reported strong growth in January of this year.