Pakistani, UAE officials break ground on Karachi terminal
NewsPakistani and UAE officials celebrate the groundbreaking of a US$175M Bulk and General Cargo terminal, enhancing Karachi’s maritime industry.
Noatum takes majority stake in Safina B.V.
NewsNoatum acquires Safina B.V., specialising in agency services for the metals, minerals, and fertiliser sectors.
Noatum, part of Abu Dhabi-based AD Ports Group, has taken a majority stake in Safina B.V., a provider of maritime agency and cargo services in Egypt and the Middle East. The acquisition is scheduled for completion in Q3 2024.
By acquiring Safina, Noatum aims to leverage the company’s strong position in Egypt’s maritime agency market. Safina, headquartered in Cairo with six office locations, provides services across 15 Egyptian ports, including Sokhna, Adabiya, and Alexandria. The company specialises in agency services for the metals, minerals, and fertiliser sectors, and has a notable presence at both Mediterranean and Red Sea ports. The acquisition aligns with AD Ports Group’s broader strategy in Egypt, which includes recent concession agreements for managing cruise and Ro-Ro terminals at several key Egyptian ports.
“Welcoming Safina into the Noatum Maritime family aligns perfectly with our vision for growth. The move enhances our presence in key markets and enables us to strengthen our service offering across Egypt, the Middle East and North Africa, providing for greater flexibility and opportunities to meet our customers’ needs. By leveraging Safina’s four decades of experience and local expertise, we aim to further optimise our operations, strengthen customer relationships, and drive sustainable growth,” Terry Gidlow, Chief Executive Officer, Noatum Maritime, Noatum, Logistics Cluster, AD Ports Group, said.
AD Ports said that Safina will be rebranded as Noatum Maritime Egypt in due course and integrated into the Noatum Maritime ecosystem. Its founders will retain a minority stake in the business and continue to support the company.
The move is being reported as AD Ports concludes the acquisition process of the Tbilisi Dry Port, becoming the majority owner with a 60% stake.