AD Ports Group has announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation and shipping agreement with Saif Powertec Limited, a listed firm in Bangladesh that is active in ports, logistics, civil engineering, and power sectors.
Under the terms of the agreement, the two companies will work closely together to facilitate trade and cargo services from Fujairah to Bangladesh over a period of 15 years. As part of the collaboration, SAFEEN Feeders is expected to provide eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT) capacity to Saif Powertec.
"Our newest collaboration with Saif Powertec not only introduces a new offering for customers that is a fast and low-cost service for their dry bulk shipping needs, but will also have a tremendous impact on maritime trade across our combined spheres of influence," said Captain Maktoum Al Houqani, CEO of Maritime Cluster at AD Ports Group.
In addition to facilitating the movement of general cargo and dry bulk cargo between Fujairah Port in the UAE to port facilities in Chattogram and Mongla in Bangladesh, the new bulk shipping offering will also oversee cargo operations to the Indian subcontinent, South-East Asia, and other global destinations, according to a statement.
Captain Ammar Mubarak Al Shaiba, CEO of SAFEEN Feeders and Acting CEO of Ports Operating Company at AD Ports Group, commented, "In addition to boosting trade between the UAE and Bangladesh, the collaboration with Saif Powertec brings a new opportunity to deliver an enhanced cargo service to customers across the Indian subcontinent, South-East Asia, as well as other high-profile global destinations."
Both companies will jointly own and operate bulk shipping services that will promote maritime trade between the MENA (Middle East and North Africa) region and Asian Subcontinent. Other areas of potential collaboration involving Saif Powertec include the leasing of berths and potentially jetties to develop and improve the cargo operations, along with the adoption of warehouse storage solutions offered by AD Ports Group.
The partnership between the two companies will greatly enhance Saif Powertec's capabilities as Bangladesh’s sole terminal operator to facilitate the movement of dry cargo at the international level, according to the company's managing director, Tarafder MD Ruhul Amin, who said, "Boasting a capacity of 55,000 DWT, SAFEEN Feeders’ bulk carriers, which will be offered on a bareboat or time charter basis, are expected to realise significant returns and deliver real benefits for our customers."