AD Ports Group is to acquire an 80% stake in Global Feeder Shipping (GFS), a Dubai-based company operating in the Middle East, Asia and Africa with services connecting the UAE to India, Pakistan, Sri Lanka, Egypt, Sudan, Djibouti, Yemen, Saudi Arabia, Bahrain, China, South Korea and Vietnam.
The operation will cost 800 million dollars. It will allow the Abu Dhabi company to acquire control of one of the largest shipping companies specialized in feeder services. To date, the company has a fleet of 26 vessels and can offer a 72,500 TEU operating capacity.
Ad Ports aims to integrate the services of GFS with those of its subsidiary, Safeen Feeders, eventually supplying the market with a combined fleet of 35 ships and a total operational capacity of 100,000 TEUs.
Translation by Giles Foster