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AD Ports Group subsidiary, Noatum Maritime, has further extended its presence in the Middle East region by acquiring a majority stake in the Egyptian shipping company and maritime services provider, Safina. The move also complements AD Ports Group’s broader strategy for growth in Egypt, which was recently highlighted with the signing of concession agreements for the management and operation of cruise and ro-ro terminals in Safaga, Hurghada, Sharm El Sheikh and Sokhna ports.
Safina is considered a key player in the Egyptian maritime industry, offering a wide range of agency and maritime logistics services to shippers active in the metals, minerals and fertilisers sectors in particular. As a well-established shipping agency, Safina operates at six office locations, including its headquarters in Cairo, which allows it to provide agency services across 15 Egyptian ports, offering liner and tramp agency services as well as transit services through the Suez Canal. Safina enjoys a sizeable market share in both Mediterranean and Red Sea Egyptian Ports, including Sokhna, Adabiya, Damietta, Port Said and Alexandria.
AD Ports says that Safina will be rebranded as Noatum Maritime Egypt in due course. Its founders will retain a minority stake in the business and will continue to support the growth of the company, it adds.
