AD Ports Group (ADP) announced on 1 July 2022 that it has reached an agreement
to acquire a 70% equity stake in International Associated Cargo Carrier (IACC)
for $140m.
IACC owns Transmar, a regional container shipping company that operates a
container service between Adabiya and Jeddah on its core route with operations
across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. In
2021, Transmar handled 109,000 teu. It owns the 2008 built 2,127 teu TRANSMAR
LEGACY that was acqui