UAE-Bangladesh entities sign trade facilitation, shipping agreement

AD Ports Group on Friday 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.

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.

Captain Maktoum Al Houqani, Chief Executive Officer - Maritime Cluster, AD Ports Group, said, “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.

“Leveraging SAFEEN Feeders’ expertise as a leading maritime service provider, as well as the advanced capabilities of its modernised fleet, Saif is well-positioned to accelerate the trade of dry construction materials between the UAE and Bangladesh, along with other dry cargo goods to key markets across the region and beyond.” Captain Ammar Mubarak Al Shaiba, CEO SAFEEN Feeders and Acting CEO of Ports Operating Company at AD Ports Group, said, “Today’s announcement marks not only the official start of a new collaboration between AD Ports Group and one of Bangladesh’s leading logistics service providers, but also heralds a new era of maritime trade facilitation between our two proud nations and their respective ports.

“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.”

Tarafder MD Ruhul Amin, Managing Director of Saif Powertec, said, “We are pleased to announce the start of our close partnership with AD Ports Group’s SAFEEN Feeders, which has greatly enhanced our capabilities as Bangladesh’s sole terminal operator to facilitate the movement of dry cargo at the international level.

“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.” Both companies will jointly own and operate bulk shipping services that will promote maritime trade between the Mena 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 scope of the agreement also covers future areas of collaboration to jointly develop and invest in the maritime infrastructure and projects of Bangladesh and the United Arab Emirates. Launched in 2020, SAFEEN Feeders was created to serve as AD Ports Group’s container feeder service provider with the goal of enhancing national and regional trade through the provision of vital connectivity across the Arabian Gulf and the Indian Subcontinent’s container distribution network.

Today, the organisation delivers its unique service to a wide range of shipping companies and regional clients active within key regional ports, including those based in the UAE, Saudi Arabia, Oman, Bahrain, Iraq, Pakistan, and India.

ADQ, an Abu Dhabi-based investment and holding company, recently announced it has entered an agreement to acquire a majority equity stake in Unifrutti Group (Unifrutti), a leading global producer and distributor of high-quality fresh produce, from existing shareholders.

Unifrutti produces, trade and distributes more than 100 varieties of fresh produce including apples, bananas, cherries, grapes and citrus fruits. With approximately 560,000 tonnes of fresh fruit sold annually and more than 14,000 hectares of farms across four continents, the group operates with full integration along the value chain, serving more than 500 customers in 50 countries.

Gil Adotevi, Executive Director of Food and Agriculture at ADQ, said, “We are developing our food and agriculture portfolio with the aim of generating strong financial returns while bolstering food resilience in the UAE. Our investment in Unifrutti would enable ADQ to develop a global platform for fresh produce that complements our other portfolio companies throughout the food value chain.”

WAM