Abu Dhabi-based AD Ports Group has unveiled its intention to grow its fleet by buying three crude oil tankers and five bulk carriers, costing a combined AED 955M ($260M). The move is part of the group’s strategy to bolster its shipping arm, under the AD Ports Group’s Maritime Cluster.
The five bulk carriers are part of a long-term agreement with Saif Powertec, signed in April 2022, to transport general and dry bulk cargo between Fujairah Port and various international destinations, including Bangladesh, the Indian subcontinent, and South-East Asia.
As part of its plan to expand its fleet, AD Ports Group will acquire three crude oil tankers worth AED 496M. The purchase is part of a seven-year vessel pooling agreement established in December with KazMorTransFlot (KMTF), a subsidiary of Kazakh National Oil Company (KazMunayGas), to transport crude oil globally, according to TradeArabia News.
Managing Director and Group CEO Captain Mohamed Juma Al Shamisi said: “The extension of our fleet with the purchase of another five bulk carriers and addition of an initial three crude oil tankers is a remarkable milestone for our Maritime Cluster and will further enable us to equip our business with the right assets and logistics capabilities to adapt to the evolving global demand within the industries in which we operate.”
“More importantly, the vessel acquisitions are part of a larger expansion strategy by our group aimed at broadening the portfolio of services and taking our experience and service excellence to the wider bulk shipping and offshore oil markets,” he stated.
“We firmly believe that by challenging ourselves and looking beyond our horizons through dynamic strategic partnerships, we will not only benefit our current and future customers, but also our commitment to the objectives of our wise leadership,” he added.
AD Ports Group has entered into strategic partnership agreements with KazMunayGas to explore potential collaborations in various projects. These include the development of a shallow-water vessel fleet for offshore operations in the Caspian Sea and the establishment of a tanker fleet for the export of Kazakh oil.
The Abu Dhabi-based company also signed a 15-year agreement with Saif Powertec to enhance global trade and cargo services, cementing its collaborative efforts in Central and South Asia. These agreements strengthen AD Ports Group’s position in important markets, fostering growth and improving connectivity.
