AD Ports will buy a 70 percent equity stake in International Associated Cargo Carrier, which owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI).
The deal is valued at USD140 million. Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. TCI is a terminal operator and stevedoring company, mainly operating out of the Adabiya port.
President of the UAE Sheikh Mohamed bin Zayed Al Nahyan has inaugurated AD Ports group’s Khalifa Port’s expansion - a major development project with a total investment of USD1.1 billion.
ATB Riva Calzoni has delivered two reactors and a high-pressure separator drum for the Assiut refinery complex in Egypt.
From hosting North America’s first wind turbine marshalling yard to preparing for the tow-out of a colossal concrete gravity structure (CGS), the port of Argentia is rapidly transforming into a nexus for renewable energy projects and heavy lift operations. As demand for green hydrogen and sustainable fuels grows, Argentia’s developments signal a bright future for project cargo in Newfoundland and beyond.
Damen Shipyards has delivered two Combi Freighter (CF) 5000 vessels to Squtrixo General Trading. Additionally, a CF 3850 will also be handed over to the company.
The US Department of Transportation’s Maritime Administration (MARAD) has allocated USD580 million towards port improvement projects.
