Safeen Feeders, the feeder service of the AD Ports Group, has entered into a long-term trade facilitation and shipping agreement with Saif Powertec, a Bangladesh-based firm engaged in port operations and logistics.
Under the terms of the agreement, the two companies will cooperate on facilitating trade and cargo services from Fujairah to Bangladesh over a period of 15 years. As part of the collaboration, Safeen will provide eight Supramax bulk carriers with 55,000 DWT capacity to Saif Powertec.
In addition to facilitating the movement of general cargo and dry bulk cargo between Fujairah Port in the UAE to port facilities in Chattogram and Mongla in Bangladesh, the new bulk shipping offering will also oversee cargo operations to the Indian subcontinent, South-East Asia, and other global destinations.
Both companies will jointly own and operate bulk shipping services that will promote maritime trade between the MENA region and the Asian Subcontinent. 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 the 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 UAE.
