Friday, May 24, 2024

Abu Dhabi Port buys 8 new vessels for AED 955 million

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Abu Dhabi Ports Group has announced the expansion of its marine fleet and the strengthening of its maritime operations, with the purchase of eight new vessels, including five bulk carriers and three crude oil tankers, with a total value of 955 million dirhams.

The acquisition comes under the recently concluded deals by the group as part of its plans for strategic global expansion along with strengthening the group’s shipping operations.

The five bulk carriers, purchased for Dh459 million, are part of a long-term contract with Safe Power Tech signed in April 2022 to transport general cargo and dry bulk cargo, Abu Dhabi Ports said in a statement yesterday. Between Fujairah and Bangladesh Port, Indian Subcontinent, Southeast Asia and other global destinations.

The purchase of three crude oil tankers worth a total of 496 million dirhams is part of a seven-year international crude oil transport contract signed with Kazmortransflot in December 2022. KMTF», a maritime and logistics services company affiliated with the Kazakh National Company. «Kazmonay Gas» for oil.

Captain Mohamed Juma Al Shamsi, Managing Director and Chief Executive Officer of Abu Dhabi Ports Group, said, “The Group continues to work to identify new opportunities and conclude beneficial contracts that contribute to providing comprehensive and effective solutions to our customers and stakeholders and the maritime sectors.”

He further added, “The expansion of our fleet with the acquisition of five bulk carriers and three crude oil carriers is a milestone for the Group’s maritime sector. It will enable us to strengthen our business and provide marine assets and appropriate logistics services to meet the growing global demand within the markets in which we operate.

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Bill Dittman
Bill Dittman
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