Noatum, a subsidiary of AD Ports Group, has announced its acquisition of a majority stake in Safina B.V., a prominent provider of maritime agency and cargo services in Egypt and the broader Middle East region. The deal is expected to be finalised by the third quarter of 2024.
This acquisition represents a significant milestone for Noatum Maritime, as it capitalises on Safina’s established expertise and strong reputation in Egypt’s maritime agency market. The move aligns with Noatum Maritime’s broader strategy of expanding its presence across the Mediterranean, which recently included the opening of new offices in Türkiye. Additionally, this acquisition complements AD Ports Group’s expanding footprint in Egypt, highlighted by recent concession agreements for managing and operating cruise and Ro-Ro terminals at Safaga, Hurghada, Sharm El Sheikh, and Sokhna ports.
Safina has become a key player in Egypt’s maritime industry, providing comprehensive agency services and maritime logistics to shippers in the metals, minerals, and fertilisers sectors. With Noatum’s extensive international network, Safina is well positioned to access new customers from a broader range of industries and further solidify its local presence.
Safina operates from six strategic office locations, including its headquarters in Cairo, allowing it to deliver agency services across 15 Egyptian ports. The company offers a wide range of services, including liner and tramp agency services as well as transit services through the Suez Canal. It holds a significant market share in both Mediterranean and Red Sea ports in Egypt, such as Sokhna, Adabiya, Damietta, Port Said, and Alexandria.
Terry Gidlow, CEO of Noatum Maritime, Noatum Logistics Cluster, AD Ports Group, commented, “Welcoming Safina into the Noatum Maritime family aligns perfectly with our vision for growth. 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 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 eventually be rebranded as Noatum Maritime Egypt and fully integrated into the Noatum Maritime ecosystem. The company’s founders will retain a minority stake and continue to support its growth.
Source: Tank News International
