Noatum has taken a controlling stake in Safina BV through a deal expected to close in Q3 2024, and will rebrand the established agency as Noatum Maritime Egypt in due course.
The acquisition is familiar territory for parent group AD Ports after it acquired majority stakes in Transmar and Transcargo International (TCI) in 2022; both companies are stablemates of Safina at Egypt’s IACC Holdings. Noatum said Safina’s founders will retain a minority stake in the business and continue to support the growth of the company.
Safina provides comprehensive agency services and maritime logistics to shippers serving the metals, minerals, and fertilisers sectors. From its offices in six Egyptian hubs including Cairo, Port Said and Suez, Safina provides liner and tramp agency services to 15 Egyptian ports as well as Suez Canal transit services.
The Transmar and TCI acquisitions in 2022 were AD Ports’ first international acquisitions and marked the beginning of an expansion into Egypt, which was recently reinforced with concession agreements for the management and operation of cruise and Ro-Ro terminals at Safaga, Hurghada, Sharm El Sheikh and Sokhna ports.
Terry Gidlow, CEO, Noatum Maritime, 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.”Noatum is part of the logistics division at AD Ports and has three main operations, Noatum Maritime, a maritime services company; Noatum Logistics, a comprehensive logistics operator; and Noatum Terminals, its port operations division.
Source: Seatrade Maritime News
