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.
The first jacket foundation for the USA’s largest offshore wind project, Coastal Virginia Offshore Wind (CVOW), has been shipped from Port Esbjerg following its fabrication at the Danish port.
Germany-based SAL Heavy Lift has inaugurated its third Orca-class heavy lift vessel, Patricia at the Wuhu Shipyard in China.
LiftEx 2025 will take place in Liverpool, UK, on November 18-19, 2025.
Finnish shipping group Meriaura said that development its two latest newbuildings is progressing as planned, with steel expected to be cut in February 2025.
