UAE-based Safeen Feeders acquired two (2) supramax bulk carriers. UAE-based AD Ports’ shipping arm Safeen Feeders acquired 2010 built supramax bulk carrier 57K DWT MV Al Saad (ex MV Orient Lucky) for around $18 million from Pacific Linking and 2010 built supramax bulk carrier 56K DWT MV Aleena 1 (ex MV Amoy Action) for around $18 million from Amoysailing Maritime. In April, Safeen Feeders entered the dry bulk sector via a collaboration with Bangladeshi conglomerate Saif Powertec. Safeen Feeders is the liner arm of Abu Dhabi’s AD Ports Group. MV Aleena 1 (ex MV Amoy Action) and MV Al Saad (ex MV Orient Lucky) have been delivered to the UAE-based Safeen Feeders. UAE-based Safeen Feeders cooperated with Saif Powertec for a 15-year trade facilitation and shipping agreement to see Safeen Feeders deliver eight (8) supramax bulk carriers on bareboat and time charters to a jointly owned and operated bulk shipping services company. UAE-based Safeen Feeders controlled MV Aleena 1 (ex MV Amoy Action) and MV Al Saad (ex MV Orient Lucky) will initially carry cargoes from ports in the UAE to the ports of Chattogram and Mongla in Bangladesh. Safeen Feeders cooperated and the Saif Powertec venture will also manage cargo operations to the Indian subcontinent, South East Asia (SEA), and other international ports. Safeen Feeders cooperated and the Saif Powertec venture covers forthcoming areas of collaboration to expand and invest in the maritime infrastructure and projects of the United Arabian Emirates and Bangladesh. Captain Ammar Mubarak Al Shaiba-led Safeen Feeders aims to expand into various maritime shipping sectors. UAE-based AD Ports established Safeen Feeders in 2020 with Singapore-based Bengal Tiger Line as a strategic partner. Safeen Feeders focus remains on building a large portfolio of ocean-going ships and services for the charterers. 6-July-2022
Safeen Feeders is entering the dry bulk sector via a collaboration with Saif Powertec. Safeen Feeders will deliver eight (8) supramax bulk carriers which will be taken on bareboat and time charters to the jointly owned and operated bulk shipping services company. Eight (8) supramax bulk carriers will transport bulk cargoes from Fujairah to Chattogram and Mongla. Safeen Feeders and Saif Powertec venture will also manage cargo operations to the Indian subcontinent, South East Asia (SEA). Safeen Safeen Feeders was established in 2020 with the strategic partnership of UAE-based AD Ports and Singapore-based Bengal Tiger Line (BTL). UAE-based AD Ports CEO Captain Maktoum Al Houqani stated that the joint venture will furnish a swift, low-cost service for Safeen Feeders’ charterers in dry bulk shipping. Initially, Safeen Feeders and Saif Powertec venture will carry building materials between the UAE and Bangladesh, along with other dry cargo cargoes. Bangladeshi conglomerate port and logistic operator Saif Powertec is listed on the Dhaka Stock Exchange. AD Ports is a large conglomerate listed on the Abu Dhabi Securities Exchange that serves commercial ports in the UAE. 17-April-2022