Abu Dhabi, UAE – AD Ports Group has announced its plans to expand its fleet with the acquisition of five bulk carriers and three crude oil tankers. The vessel purchases are part of the company’s global expansion objectives to enhance its shipping division under the AD Ports Group’s Maritime Cluster.
The five bulk carriers, worth approximately $125 million, will be purchased from Saif Powertec as part of a long-term agreement signed in April 2022. The deal involves the transportation of general and dry bulk cargo between Fujairah Port in the UAE and destinations such as Bangladesh, the Indian subcontinent, Southeast Asia, and other global locations.
Meanwhile, the three crude oil tankers, with a total transaction value of $135 million, will be acquired under a 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.
According to Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, the vessel acquisitions are part of the company’s larger expansion strategy aimed at broadening its portfolio of services and taking its experience and service excellence to the wider bulk shipping and offshore oil markets.
Under the terms of the strategic partnership agreement between KazMunayGas and AD Ports Group, the two companies will explore opportunities to collaborate on various projects, including the development of a new fleet of shallow-water vessels to support offshore operations in the Caspian Sea and the development of a tanker fleet to support the export of Kazakh oil.
The continuation of each agreement solidifies AD Ports Group’s collaborative ventures across the Central and South Asian region, supporting international trade and enhancing connectivity, providing a solid foundation for growth in some of the most important markets.