Ad Ports acquires 80% stake in GFS, becomes the world’s largest independent feeder carrier
08.11.2022
AD Ports Group, the Abu Dhabi-headquartered operator of free zones, ports, logistics, maritime and digital services signed an agreement on Thursday to acquire an 80% equity stake in the Dubai-based global container shipping company, Global Feeder Shipping (GFS), in line with its long-term strategy to become one of the world’s premier short-sea and feeder shipping players.
By integrating GFS into AD Ports’ Maritime Cluster – which already offers a comprehensive portfolio of shipping, offshore and subsea services – to complement the group’s other companies SAFEEN Feeders and Transmar’s operations, AD Ports Group will become the world’s largest independent feeder company by vessels owned, with a fleet of 35 owned vessels, and the third largest globally by the volumes carried, with a total container capacity of 100,000 TEUs.
Etihad doubles cold chain storage capacity at Abu Dhabi Airport
02.11.2022
The new pharmaceutical cold chain facility at Abu Dhabi International Airport (AUH) will further expand Etihad’s pharmaceutical handling and storage capabilities.
Etihad Aviation Group’s cargo and logistics wing, Etihad Cargo announced on Wednesday it plans to launch a new pharmaceutical cold chain facility at Abu Dhabi International Airport (AUH) to further expand its pharmaceutical handling and storage capabilities.
Saudi supply chain: The kingdom launches a new initiative to attract $10 billion in supply chain investments
24.10.2022
The Saudi supply chain initiative will leverage the kingdom’s resources, infrastructure, and location to bring greater resilience to economies and companies across Europe, the Americas, and Asia, while further enhancing Saudi Arabia’s position in the global economy.
Saudi Arabia’s Crown Prince and Prime Minister, HRH Prince Mohammed bin Salman launched on Sunday the Global Supply Chain Resilience Initiative to attract $10.64 billion (SAR 40 billion) investments to the kingdom’s supply chain sector, in line with the Saudi Vision 2030 programme objectives to position the country as a leading logistics and supply chain hub.
Container shipping: Rates to drop below pre-COVID levels, report says
14.10.2022
According to Container xChange’s monthly container logistics report, the global container shipping industry is set to experience the typical boom and bust cycle in October, with overall slowed-down demand and a corresponding oversupply of containers.
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According to Container xChange’s data, the price of a cargo-worthy 40 ft HC container in Ho Chi Minh City on September 22 was $3,643, the third highest on the platform.
This indicates a high demand for 40 ft HC containers at the port. Not just the prices, the average pick-up rate of a cargo-worthy 20 ft from the port of Ho Chi Minh to the US dropped from $321 to $117 as well.
The prices for cargo-worthy 40 DC boxes in the ports of China have seen a steady decline in 2022, nearly a 50% drop compared to the beginning of the year.
While the ports of India and Vietnam have seen a similar decline, the trading prices seem to have stabilised over the last two months showing an increase in demand for these boxes at the ports of Mundra, Nhava Sheva, and Ho Chi Minh City, according to the report.
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Europe, on the other hand, has experienced an oversupply of 40 ft HC containers, driving a significant drop in container prices.
“As of September 21, 2022, the general average pickup and delivery (PU) charge for a 40 ft HC cargo-worthy box in the ports of Europe fell from $2,996 in August to $2,773 in September. The prices for the same were $3,281 in July this year,” the report revealed.
Container Line Hapag-Lloyd to Buy South American Terminal, Logistics Operator
05.10.2022
Estimated $1 billion deal accelerates shipping line’s movement into port and logistics operations.
German container shipping line Hapag-Lloyd AG is stepping up its push into inland logistics with the acquisition of the shipping terminal and logistics businesses of Chile’s Sociedad Matriz SA AM SA for around $1 billion.
Under the agreement unveiled Tuesday, the German shipping company will acquire SAAM Ports SA and SAAM Logistics SA, as well as a real-estate portfolio from Sociedad Matriz. The ports business comprises terminals in Chile, as well as other countries in South and Central America and in Florida.
The logistics business is concentrated at five ports in Chile, Hapag-Lloyd said.
The acquisition follows Hapag-Lloyd’s purchase last month of a 49% stake in Italian terminal operator Spinelli Group and an investment a year ago in Germany’s JadeWeserPort Wilhelmshaven, which operates port and rail facilities.
The Sociedad Matriz deal is in line with Hapag Lloyd’s strategy to expand involvement in the terminal sector, the shipping line said.
“The purchase agreement that has today been signed will further strengthen Hapag-Lloyd’s business while building up a robust and attractive container terminal portfolio,” the company said.