Safeen Feeders, the feeder services company of AD Ports Group, has partnered with Saif Powertec, a Bangladesh-listed ports and logistics company, to boost trade and shipping.
Under the terms of the agreement, the two companies will work together to enable trade and cargo services from Fujairah to Bangladesh over 15 years, AD Ports said in a statement on Friday.
“Our collaboration with Saif Powertec not only introduces fast, low-cost service for customers’ dry bulk shipping needs, but will also have a significant impact on maritime commerce in our combined spheres of influence,” said Capt. Maktoum Al Houqani, General Manager. of the maritime cluster at AD Ports Group.
“Leveraging Safeen Feeders’ expertise as a maritime service provider, as well as its fleet capabilities, Saif is well positioned to accelerate trade in dry construction materials between the UAE and Bangladesh, as well as other dry freight cargo to key markets in the region. and beyond.”
AD Ports Group, which operates ports, industrial towns and free zones in the emirate, established Safeen Feeders in 2020 to improve connectivity between ports in the region and serve trade in the region.
Safeen Feeders connects Abu Dhabi to other ports in the United Arab Emirates, the Gulf region and the Indian subcontinent.
Under the latest agreement, Safeen Feeders will supply eight Supramax bulk carriers with a deadweight capacity of 55,000 tonnes to Saif Powertec.
“In addition to boosting trade between the UAE and Bangladesh, the collaboration with Saif Powertec offers a new opportunity to provide enhanced freight service to customers in the Indian subcontinent, South East Asia as well as other global destinations,” said Capt Ammar Al Shaiba. , Managing Director of Safeen Feeders and Acting Managing Director of AD Ports Group Ports Operating Company, mentioned.
The agreement with Safeen Feeders improves Saif Powertec’s “capabilities as Bangladesh’s sole terminal operator to facilitate the movement of dry cargo internationally,” said Managing Director Tarafder Amin.
The companies will jointly own and operate bulk shipping services that will promote maritime trade between the Mena region and the Asian subcontinent, AD Ports said.
Other areas of potential collaboration involving Saif Powertec include the rental of quays and possibly jetties to develop and improve freight operations, as well as the adoption of warehouse storage solutions offered by AD Ports Group.
The scope of the agreement also covers future areas of collaboration to jointly develop and invest in maritime infrastructure and projects in Bangladesh and the United Arab Emirates, AD Ports said.
AD Ports Group, which debuted on the Abu Dhabi Stock Exchange in February, raised 4 billion dirhams ($1.08 billion) from its share sale.
Its portfolio includes 10 ports and terminals, and over 550 square kilometers of economic zones within ZonesCorp and the Khalifa Abu Dhabi Industrial Zone.
The company is looking to expand its business and has announced plans to develop one of the largest food trading and logistics centers in the region in Kizad to enhance food security.
Updated: April 15, 2022, 1:11 p.m.