Abu Dhabi Ports (AD Ports), the owner of Safeen Feeders, is reported to be in talks to acquire Indonesia’s Meratus Line in a transaction that could be valued at $2Bn. Meratus was reported to be seeking to sell its shipping and logistics business since July 2023, and AD Ports has emerged as the front runner in sales process. Meratus was established in 1957 in Surabaya, Indonesia and is the largest domestic operator in Indonesia. The company expanded its services to Papua New Guinea in February 20
Safeen Feeders has launched a new UAE Pakistan Gulf (UPG) service that connect Abu Dhabi, Dammam, Bahrain, Karachi, Sharjah, Abu Dhabi from 10 September 2023. The service turns in 14 days and deploys the 2,542 teu SAFEEN PRIME and SAFEEN PRIZE.
Safeen Feeders has launched a new UAE-Kuwait feeder service connecting Abu Dhabi and Shuwaikh port with the 1,368 teu SAFEEN PRIDE from 12 April 2023.
Safeen Feeders have upgraded its UAE-India-Gulf (UIG) service with the introduction of 3,500 teu ships to the service from July 2023 with the port rotation streamlined to call at Abu Dhabi, Mundra, Nhava Sheva, Abu Dhabi, Umm Qasr, Dammam, Abu Dhabi. Calls at Kandla, Hamad and Bahrain that were previously in the UIG rotation have been dropped. The service will turn in 3 weeks with the larger ships including the 3,534 teu SSF DREAM and SSF DYNAMIC that are chartered from Simatech joining the 3,
The 3 AD Ports shipping companies - Safeen Feeders, Transmar and Global Feeder Shippping (GFS) - will launch a new service connecting Karachi, Abu Dhabi, Jebel Ali, Dammam, Jeddah, Aqaba, Sokhna, Adabiya, Port Sudan, Djibouti. The service is scheduled to start in December 2022, with further details still to be advised.
Safeen Feeders has launched a new UAE-Red Sea feeder service connecting AD Ports' Khalifa Port and Fujairah with Jeddah and Port Sudan in the Red Sea. The service is an extension of Safeen's current Red Sea service using the 1,368 teu SAFEEN PRIDE The UAE-Red Sea feeder will call at Abu Dhabi, Fujairah, Jeddah, Port Sudan, Abu DhabiSafeen Feeders also offers services on the UAE-China, Singapore-Chennai-Colombo, UAE Coastal/Oman and UAE-India-Gulf routes as part of AD Port Group's Maritime Clus
AD Ports have agreed to buy an 80% stake in Dubai based Global Feeder Shipping (GFS) on 3 November 2022 for a total consideration of $800m, implying a total valuation of $1 Bn for GFS. In the last 12 months, GFS recorded total revenues of $1,085m, EBITDA of $521m and Net Profit of $481m, with an EV/EBITDA multiple of 1.9x for the transaction. According to AD Ports, it assumed a correction of 60% in the freight rates over the coming years from the peak rates in 2022 before arriving at the agre
AD Ports Group has completed its first international acquisition on 14 September 2022 with the purchase of a 70% stake in the Egyptain company International Associated Cargo Carrier (IACC) which fully owns Transmar International Shipping Company and Transcargo International (TCI). Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa while TCI is a terminal operator and stevedoring company, mainly operating out
Safeen Feeders has expanded its coverage to China with the launch of a new UAE-China service connecting Khalifa Port, Qingdao, Shanghai, Ningbo, Singapore, Khalifa Port. The service will turn on a monthly basis using one ship, the 3,421 teu SAFEEN POWER (ex EASTAWAY MALMSEY, built 2011) that Safeen that acquired in August from Sea Consortium. The ship departed from its maiden call at Shanghai on 9 September 2022. The new service will be Safeen Feeders’ first service to call in China, and foll
Safeen Feeders have teamed up with CMA CGM to launch the Singapore Chennai Colombo (SCC) service starting from 5 September 2022 from Singapore. Safeen will introduce the 2,034 teu SAFEEN PIONEER on this service, joining CMA CGM's 1,732 teu SONGA TIGER. For Safeen, the SCC will be its first service operated outside of its home p0rt of Khalifa in Abu Dhabi. Safeen Feeders was launched in June 2020 by Abu Dhabi Ports to boost feeder connectivity between Khalifa and the Arabian Gulf/Indian Subcont