December 3, 2023

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AD Ports Group to spend Dh955m on new vessels, together with 3 crude oil tankers

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The acquisition of the crude oil tankers kind a part of the seven-year vessel pooling settlement in December 2022 with KazMorTransFlot (KMTF), a subsidiary of Kazakh Nationwide Oil Firm (KazMunayGas), for the transport of crude oil internationally.

“The extension of our fleet is a outstanding milestone for our Maritime Cluster,” stated Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO on the Abu Dhabi entity. “And can additional allow us to equip our enterprise with the fitting belongings and logistics capabilities to adapt to the evolving world demand inside the industries wherein we function.”

The vessel purchases are half of a bigger enlargement technique ‘aimed toward broadening our portfolio of providers’.

Underneath the settlement between KazMunayGas and AD Ports Group, the 2 will assessment alternatives to collaborate on a spread of tasks, together with the event of a brand new fleet of shallow-water vessels to assist offshore operations within the Caspian Sea and the event of a tanker fleet to assist the export of Kazakh oil.

On the majority carriers, AD Ports Group – by way of its Safeen Feeders – is working off an current cope with Saif Powertec, which was signed April 2022. The 2 will work to ‘facilitate world commerce and cargo providers over a interval of 15 years’.

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