Abu Dhabi: AD Ports Group has unveiled its plans to purchase three crude oil tankers and five bulk carriers as part of its fleet expansion strategy.
The upcoming acquisition of five bulk carriers and three crude oil tankers aligns with AD Ports Group’s strategic plan for global expansion and growth of its Maritime Cluster shipping division. The move follows the group’s recent agreements aimed at achieving this objective.
As per the long-term agreement signed with Saif Powertec in April 2022 for the transportation of general and dry bulk cargo from Fujairah Port to various global destinations, AD Ports Group will acquire five bulk carriers.
Under the seven-year vessel pooling agreement made with KazMorTransFlot (KMTF), a subsidiary of Kazakh National Oil Company (KazMunayGas), AD Ports Group will acquire three crude oil tankers for AED496 million. These tankers will be used for the international transportation of crude oil.
According to Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, the acquisition of five bulk carriers and three crude oil tankers marks a significant achievement for the company’s Maritime Cluster. He added that these purchases will enhance the group’s logistics capabilities and provide the necessary assets to respond to the changing global demands within the industries.
AD Ports Group’s strategic partnerships with KazMunayGas and Saif Powertec Limited will explore potential collaborations in several projects, including the development of a new fleet of shallow-water vessels to support offshore operations in the Caspian Sea and a tanker fleet for the export of Kazakh oil.
The agreements also solidify AD Ports Group’s collaborative ventures in the Central and South Asian regions to enhance connectivity and support international trade, providing a solid foundation for growth in significant markets. The partnership with Saif Powertec Limited will continue for 15 years, while the agreement with KazMunayGas is for seven years.