Aramex + AD Ports establish shipping JV:Dubai-listed logistics provider Aramex and the UAE’s AD Ports are establishing a joint venture to develop and operate a non-vessel operating common carrier (NVOCC) enterprise, according to a press release.

SOUND SMART- An NVOCC freight forwarder is an ocean carrier that performs all the roles of a carrier, but does not own its own vessels, according to UPS.

The details: The JV will service oceanbound container cargo for freight forwarders across the GCC, Indian, and East and West African markets, providing them with “tailored solutions,” the statement said, without clarifying what the services are. The JV has a target of servicing some 10k containers in the short term, with plans to increase this number in the future, according to the press release.

Ownership breakdown: AD Ports will hold a controlling 51% stake in the JV, while Aramex will hold a 49% stake.

Background: AD Ports acquired a 22.32% stake in Aramex back in February last year, as a strategic move to develop the maritime and logistics industries across the region and globally,” AD Ports CEO and Managing Director Mohamed Juma Al Shamisi said at the time of the acquisition.

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