AD Ports will buy a 70 percent equity stake in International Associated Cargo Carrier, which owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI).
The deal is valued at USD140 million. Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. TCI is a terminal operator and stevedoring company, mainly operating out of the Adabiya port.
AD Ports has begun its long-term management and development of a major multipurpose terminal and an associated logistics business with local partners in Luanda, Angola.
President of the UAE Sheikh Mohamed bin Zayed Al Nahyan has inaugurated AD Ports group’s Khalifa Port’s expansion - a major development project with a total investment of USD1.1 billion.
ATB Riva Calzoni has delivered two reactors and a high-pressure separator drum for the Assiut refinery complex in Egypt.
South Carolina, USA-headquartered Stevens Towing reported a positive first half of the year, its tug and barge fleet reporting an extremely busy second quarter, with the project cargo market continuing to strengthen.
Construction is underway at the port of Raahe’s Syvälaituri 3 – deep pier 3 – in Finland, which will be primarily used to handle project cargo at the port.
Offshore wind engineering company Osbit has opened an assembly and service facility at the port of Blyth in the UK.
