Archives



Business, Freight News, Sea


AD Ports creates world’s largest feeder line with GFS buy

[ November 3, 2022   //   ]

AD Ports Group says it has created the world’s largest independent feeder carrier with its acquisition of an 80% stake in Dubai-based Global Feeder Shipping, for AED 2.9 billion. It now plans to integrate GFS into its maritime cluster, which includes SAFEEN Feeders and Transmar giving the group the world’s largest independent feeder owned fleet of 35 vessels, and the third largest globally by volumes carried with a total container capacity of 100,000TEU.

The acquisition will further strengthen the company’s hub and spoke model by linking core markets in the Gulf, Indian Subcontinent, Red Sea, and Turkey to its key port assets including Khalifa Port.

Subject to regulatory approvals, the transaction is expected to close in the first quarter of 2023. GFS’s existing management will remain in place with the founders retaining a 20% stake in the company.

Tags: