Posted on May 8, 2023
Rapidly expanding AD Ports Group from Abu Dhabi has entered the tanker sector as well as bolstering its dry bulk fleet.
The company announced yesterday the purchase of five bulk carriers and three crude oil tankers.
The five bulk carriers form part of the long-term agreement with Saif Powertec, signed in April 2022, for the movement of general cargo and dry bulk cargo between Fujairah Port in the UAE and Bangladesh, the Indian subcontinent, Southeast Asia, and other global destinations.
The purchase of three crude oil tankers will form part of the seven-year vessel pooling agreement formed in December 2022 with KazMorTransFlot (KMTF), a subsidiary of Kazakh National Oil Company (KazMunayGas), for the transport of crude oil internationally.
Mohamed Juma Al Shamisi, group CEO of AD Ports, said the vessel acquisitions are part of a larger expansion strategy aimed at broadening the company’s portfolio of services to the wider bulk shipping and offshore oil markets.