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.
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.
Rhenus Group has signed an agreement to acquire a 49.99 percent stake in Rietlanden Terminals, which operates two terminals at the port of Amsterdam, from the current owner JERA Global Markets.
Multipurpose shipping line Chipolbrok has appointed Siam Bridge Agency as its representative in Thailand.
OOG Network is holding its third annual general meeting (AGM) at the Grand Hyatt in Bali from October 2-4, 2023.
Shipping giants A.P. Moller - Maersk and CMA CGM are joining forces to accelerate the decarbonisation of the industry, with the aim of working together to develop the use of alternative greener fuels for container vessel propulsion.
