AD Ports Group has acquired an additional 30% equity stake in Global Feeder Shipping for US$ 300 million, raising its total holding to 81% in one of its most strategically significant assets.
The transaction follows AD Ports Group’s exercise of a call option originally agreed when it acquired an initial 51% stake in the Dubai-based feeder shipping line in February 2024, with the additional stake priced at the same total enterprise value of US$ 1 billion, established at that time.
The acquisition will be funded through a combination of debt and asset monetisation transactions.
GFS, the world’s fourth-largest container feeder shipping line by capacity, has grown rapidly since its initial launch in 2020 and has played a critical role in maintaining trade connectivity through periods of maritime disruption, extending service across the GCC, Indian Subcontinent, Red Sea, Far East, Mediterranean and Africa regions even as other operators withdrew capacity.
In 2025, GFS transported 2.8 million TEUs across more than 700 voyages covering 89 ports in 54 countries, generating cumulative EBITDA exceeding AED 1.8 billion, equivalent to US$ 500 million, since the initial acquisition.
The increased ownership stake strengthens AD Ports Group’s cash flow generation and provides greater strategic and operational control over the asset, enabling deeper integration with the Group’s ports, economic cities and logistics operations.
Alongside SAFEEN Feeders and Transmar, GFS forms the core of AD Ports Group’s container feeder shipping business, which saw overall revenue grow 17% year-on-year in 2025.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, described the increased stake as a reaffirmation of commitment to one of the Group’s highest-performing assets, highlighting GFS’s role in connecting AD Ports Group’s network to new markets across the Red Sea and Gulf during a period when reliable trade connectivity has become increasingly valuable.
Amir Maghami, CEO of Global Feeder Shipping, characterised the transaction as an important milestone in deepening integration with AD Ports Group, crediting the Group’s support for enabling steady expansion of GFS’s services and fleet amid volatile market conditions.
The Maritime and Shipping Cluster, of which GFS forms a core part, generated total revenue growth of 33% to AED 10.7 billion in 2025, with cluster EBITDA rising 25% to AED 2.5 billion, representing 51% of AD Ports Group’s overall revenue and 45% of Group EBITDA.
