Abu Dhabi Ports acquires 8 new vessels for $260mln

Abu Dhabi Ports Group (AD Ports Group) has acquired three crude oil cargo vessels at $135.07 million and five additional bulk cargo vessels for $125 million, in an effort to expand its maritime fleet, according to a statement issued on Monday.

“This acquisition comes under recent agreements concluded by the Group as part of its strategic global expansion plans, as well as the strengthening of the Group’s shipping arm,” the statement said.

The three oil cargo vessels were part of an agreement signed from December to seven years ago, with Kazmortransfloot “KMTF”, Kazakh National Petroleum Company’s Marine and Logistics Services Company.

The five new cargo vessels are intended to transport public and bulk dry cargo between Fujairah Port in the UAE, Bangladesh, the Indian subcontinent, Southeast Asia and other global destinations.