Noatum, an AD Ports subsidiary, has announced the purchase of a majority share in Safina B.V., a supplier of maritime agency and cargo services in Egypt and throughout the Middle East.
The transaction is scheduled to be finalised in Q3 2024.
Along with its expansion in the Middle East, the move complements AD Ports Group’s broader presence in Egypt, which was recently marked by the signing of concession agreements for the management and operation of cruise and RoRo terminals at Safaga, Hurghada, Sharm El Sheikh, and Sokhna ports.
According to the company, Safina has emerged as a prominent participant in Egypt’s marine business, providing full agency services and maritime logistics to shippers in the metals, minerals, and fertilizer industries.
READ: Noatum unveils new logistics brand in Middle East
Safina will reportedly benefit from Noatum’s large worldwide network, allowing it to reach new clients in a wider range of sectors while also strengthening its local presence.
Safina has six key office sites, including its headquarters in Cairo, allowing it to provide agency services throughout 15 Egyptian ports, including liner and tramp agency services and Suez Canal transit services.
Additionally, the company has a substantial market share in the Mediterranean and Red Sea Egyptian ports, including Sokhna, Adabiya, Damietta, Port Said, and Alexandria.
READ: Noatum finalises acquisition of road transport logistics firm
Terry Gidlow, Chief Executive Officer, Noatum Maritime, Noatum, Logistics Cluster, AD Ports Group, said: “The move enhances our presence in key markets and enables us to strengthen our service offering across Egypt, the Middle East and North Africa, providing for greater flexibility and opportunities to meet our customers’ needs.
“By leveraging Safina’s four decades of experience and local expertise, we aim to further optimise our operations, strengthen customer relationships, and drive sustainable growth.”
Safina will reportedly be renamed as Noatum Maritime Egypt and integrated into the ecosystem. Its founders will maintain a minority ownership in the firm and continue to support its growth.
In May, Noatum announced the opening of Noatum Maritime’s office in Turkey.
