AD ports

AD Ports Group’s Q3 profit rises 77% to over US$90 million

UAE-based AD Ports Group has announced its financial results for the third quarter of 2022, reporting revenue of US$399.1 million (AED 1,466 million), translating to an increase of 53%.

Additionally, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 52% year-on-year to US$161.7 million (AED 594 million) in the third quarter of the year.

AD Ports Group also achieved a net profit of US$90.9 million (AED 334 million) in Q3 2022, soaring by 77% compared...

https://container-news.com/ad-ports-groups-q3-profit-rises-77-to-over-us90-million/

SAFEEN Feeders, Saif Powertec sign charter deal for three boxships

AD Ports Group’s shipping company, SAFEEN Feeders has signed a charter agreement with Saif Powertec for the purchase and chartering of three boxships.

According to the deal, SAFEEN Feeders will charter an initial three vessels to Saif Powertec at pre-agreed rates for a duration of 15 years, starting in November 2022 to be deployed on global routes connecting Bangladesh.

SAFEEN Feeders announced it will invest approximately US$102 million to purchase the container vessels.

“Leveraging SAFEEN...

https://container-news.com/safeen-feeders-saif-powertec-sign-charter-deal-for-three-boxships/

AD ports sets record profit in 2022 first quarter

The financial results for the first quarter of 2022 were published by Abu Dhabi (AD) ports group, which managed to have a double-digit percentage increase both in net profits and income.

More specifically, the company’s net profit reached record levels of US$83.31 million (AED306 million), increased by 41% compared to last year’s results in the same period. Additionally, AD Ports reported US$285 million (AED1.047 billion) in revenue, achieving a year-on-year growth of 15%.

For the same period,...

https://container-news.com/ad-ports-sets-record-profit-in-2022-first-quarter/

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