AD Ports acquires stake in GFS

The deal, worth US$800 million, will contribute to AD Ports’ long-term strategy to become one of the world’s leading short-sea and feeder shipping players.

Global Feeder Shipping has one of the largest fleets of container ships globally, featuring 26 owned and operated vessels with a total capacity of 72,500 teu, covering the Middle East, Indian Subcontinent and Southeast Asia.

“GFS offers more than 30 years of experience and excellence in the provision of container feeder services in the Middle East, Asia and Africa, in addition to a diverse and fit-for-purpose fleet,” said Captain Mohamed Juma Al Shamisi, managing director and group chief executive, AD Ports Group.

AD Ports Group plans to integrate GFS into its Maritime Cluster, which offers shipping, offshore and subsea services. Aligning GFS services with AD Ports Group companies SAFEEN Feeders and Transmar will reportedly make AD Ports Group the world’s largest independent feeder company by vessels owned, with a fleet of 35 vessels, and the third largest globally by volumes carried with a total container capacity of 100,000 teu.

“Our Maritime Cluster has delivered remarkable returns in 2022, reflecting the significant market appetite for shipping, offshore and subsea services, and integrating GFS into our operations will enable us to increase our customer base, broaden our global footprint and build upon this significant momentum,” added Captain Mohamed Juma Al Shamisi.

The transaction is expected to close in Q1 2023. GFS’s existing management will remain in place with the founders retaining a 20% stake in the company.