AD Ports Group’s shipping line, SAFEEN Feeders, has signed a long-term trade facilitation and shipping agreement with Saif Powertec, 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 on a bareboat basis.
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.