Abu Dhabi Ports has completed the acquisition of 70% of the shares of Egypt-based Transmar International Shipping and Transcargo International, owned by IACC Holdings, a company owned by the El Ahwal family.
Transmar is a regional container line operating in Egypt, Saudi Arabia, Jordan, Sudan, Djibouti and the United Arab Emirates. Petrochemicals constitute a considerable part of the trade along these routes and Transmar has ‘special capabilities’ in handling these products.
Transcargo is primarily a terminal operator, owning and operating a fleet of stevedoring equipment in the Red Sea port of Adabiya, where it is also the exclusive container operator.
Translation by Giles Foster
