AD Ports Group has signed a Memorandum of Understanding (MoU) with Hutchison Ports to extend the companies’ business reach globally.
As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the Gulf Cooperation Council (GCC), Africa, and Asia.
The two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and market competitiveness of port operations across the East African country, including Dar Es Salaam Port.
Potential areas of focus include improving servicing to several of Tanzania’s landlocked remote areas and neighbouring countries, cultivating more cargo sources, and the enhancement of existing supporting logistics and cargo processing facilities.
Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group, said: “AD Ports Group continues to expand its reach around the world, in line with the vision of our leadership, and we offer our thanks for their wise guidance.
“We are pleased to announce the start of a new collaboration with Hutchison Ports. As a starting point, we will work together to enhance and elevate Tanzania Port’s standing as a world-leading trade hub.
“AD Ports Group will advance plans to develop and implement an innovative logistics, transportation, and digital port management system, as well as investing in the development of new infrastructure, such as logistics centres and new inland container depots around Dar Es Salaam Port.”
Eric Ip, Group Managing Director of Hutchison Ports, said: “Having operated in Tanzania since 2001, we are very committed to this market and its great potential. With strong support from local partners and the addition of AD Ports Group, this new partnership will certainly be greater than the sum of its parts.
“Together, we look forward to working closely with the Tanzania Port Authority to further develop Tanzania International Container Terminal Services as we strive to ensure Dar Es Salaam Port remains the premier gateway to the East African region.”
Last month AD Ports Group acquired a 70 per cent equity stake in International Associated Cargo Carrier B.V. – which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International S.A.E. (TCI).
Hutchison Port Holdings Trust (HPHT) recently a swathe of pressures facing China’s container sector in its latest financial results.