Abu Dhabi, UAE: AD Ports Group’s SAFEEN Feeders and Saif Powertec Limited have signed a charter agreement that will see SAFEEN Feeders purchase and charter out three containerships, to support expansion of the Bangladesh-based entity into the container shipping segment.

Under the terms of the agreement, SAFEEN Feeders will charter an initial three vessels to Saif Powertec at pre-agreed rates for a duration of 15 years, starting in November 2022 to be deployed on global routes connecting Bangladesh.

SAFEEN Feeders will invest approximately AED 375 million (USD 102 million) to purchase the vessels.

The long-term charter agreement with Saif Powertec will help them gain access to critical assets while providing stable returns on investments to AD Ports Group over a long-term horizon.

Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group, said: “Under the guidance of our wise leadership, AD Ports Group continues to support the opening of new routes to stimulate global trade and drive new economic opportunities. Leveraging SAFEEN Feeders’ expertise as a leading maritime service provider, this containership charter agreement with Saif Powertec will help meet surging container traffic demand along Bangladesh-bound routes.

We have structured the agreement to reduce exposure to market volatility and ensure a positive return on our investment in these vessels.”

Tarafder MD Ruhul Amin, Managing Director of Saif Powertec, said: “We are delighted to expand our ongoing partnership with AD Ports Group’s SAFEEN Feeders through this new charter agreement, which will enable us to expand our portfolio of container shipping services. Bangladesh has been underserved by direct services and this new agreement will enable us to fill a substantial gap in the market and drive UAE-Bangladesh trade.

“The intention is to charter three vessels at the outset, offering 1,700–2,100 TEU capacity each, which will enable Saif Powertec to realise significant returns on this route and deliver real benefits for our customers.”

In April 2022, SAFEEN Feeders signed another long-term trade facilitation and shipping agreement with Saif Powertec Limited to facilitate trade and cargo services from Fujairah to Bangladesh over a period of 15 years. As part of the collaboration, SAFEEN Feeders is providing eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT) capacity.


For more information, please contact:
Sana Maadad
Director Corporate Communications - AD Ports Group

Marc Hammoud
Head of Investor Relations - AD Ports Group

AD Ports Group Media Office 
email: media@adports.ae

About AD Ports Group:

Established in 2006, AD Ports Group today serves as the region’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.

Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.

AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch.

For more information, please visit: adportsgroup.com
Follow AD Ports Group on:
LinkedIn:  https://www.linkedin.com/company/adportsgroup
Instagram: https://instagram.com/adportsgroup
Facebook:  https://www.facebook.com/adportsgroup
Twitter: https://twitter.com/adportsgroup
YouTube: https://www.youtube.com/c/adportsgroup

About SAFEEN Feeders

SAFEEN Feeders is a UAE-based container feeder services company, launched in June 2020 by AD Ports Group, with the goal of boosting national and regional trade by adding much-needed connectivity to the container distribution (feeder) network in the Arabian Gulf and the Indian subcontinent.

SAFEEN Feeders serves mainliner shipping companies and regional clients, including those located in the UAE, Saudi Arabia, Bahrain, Iraq, Pakistan, and India, through increased volumes, greater connectivity, and optimised shipping costs.

Through the service, AD Ports Group is responding to long-term growth trends in trade and manufacturing by addressing the existing service gaps within and beyond the region and providing its customers with a growing service offering.

About Saif Powertec Limited

Saif Powertec Limited (SPL) is a Bangladesh-based Public Listed Company in its 27 years of Business has established itself as a Visionary Leader by providing reliable engineering services, Power & Material Handling Solutions, generator sales and services. SPL has brought notable changes in the port operations scenario of Bangladesh by ensuring efficient terminal operation and implementing state of the art technologies’ SPL also engaged in Freight Forwarding, Multimodal dry port transport and Shipping Business.

SPL has also expanded its business in EPC (Engineering, Procurement & Construction) solutions, River Dredging, large scale marine and road construction, manufacturing of Battery, Renewable energy solutions, LED Lighting solutions, pharmaceutical grade, Plastic products, and never-ending manufacturing.

For more information, please visit: www.saifpowertecltd.com.