Abu Dhabi´s AD Ports Group achieved global expansion and record results in its first year as a publicly traded company, with 2022 becoming one of the most important years in the company’s history so far, as it is stated by the group giant.
AD Ports Group highlights in its statement, that the year started with the listing of AD Ports Group’s shares for the first time on Abu Dhabi Securities Market, and continued with remarkable achievements through to December 2022, when the inauguration of the expansion of Khalifa Port took place. The expansion works position Khalifa Port among the global elite of deep-water ports, with an estimated value of 20.4 billion dirhams.
“Through new partnerships and shipping routes, AD Ports Group is developing the highest levels of connectivity between the Arabian Gulf, the Indian Ocean, the Red Sea, East Africa, and Central Asia – vital trading partners that will help drive economic growth in the region and internationally”, as it is mentioned.
As it is furthermore pointed out, major acquisitions have played a key role in AD Ports Group’s growth story in 2022. The company completed its first international acquisition in September, acquiring a 70% stake in Egypt’s Transmar and TCI, and followed that with agreements to acquire an 80% stake in Global Feeder Shipping (GFS), which will see the group significantly expand its fleet and container capacity, and a 100% stake in Spain’s Noatum, a global logistics giant.
These transformational investments will consolidate AD Ports Group’s position as a market leader across multiple industries, operating ports and terminals around the world, with a fleet of 175 vessels, a feeder container capacity of around 100,000 TEUs, and a global logistics brand providing specialist services across multiple territories.
Throughout 2022, AD Ports Group signed agreements with port authorities and partners around the world, including contracts with the Red Sea Ports Authority for major port projects along Egypt’s coastline and with SEG, one of the largest oil and gas companies in Uzbekistan, to open new logistics and freight businesses in the Central Asian nation”.
Most recently, AD Ports Group began strategic expansion of its services in the Caspian Sea and Black Sea regions, as it entered a shareholder agreement with KMTF (Kazmortransflot), a fully-owned offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas).
Source: AD Ports Group