AD Ports acquires 80% stake in Global Feeder Shipping
AD Ports Group has signed an AED2.9bn (US$800m) agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS), creating the largest independent feeder carrier in terms of vessels owned.
Aligning GFS services with AD Ports Group companies Safeen Feeders and Transmar will give the Abu Dhabi-based company a total of 35 vessels.
It will be the third largest feeder carrier globally by volumes carried with a total container capacity of 100,000 teu.
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