Safeen eyes more Central Asian expansion: AD Ports subsidiary Safeen Group has inked a strategic memorandum of understanding (MoU) with State Oil Company of Azerbaijan Republic (Socar) to cooperate with Azerbaijan’s maritime and shipping sectors, according to a press release. The agreement will see the companies collaborate on shipping of crude and petroleum products, infrastructure development, cargo transport and onshore and offshore logistics.

The details: The companies will exchange expertise to boost maritime and logistics services in Azerbaijan, the press release adds. The agreement will also focus on modernizing onshore and offshore logistics, particularly wind projects, according to a statement.

What they said: “Azerbaijan’s strategic location and Socar’s expertise would ensure a dynamic platform for elevating maritime services, infrastructure, and logistics in the region. Furthermore, it would enable the facilitation of the further development of trade corridors in this geographically significant area,” CEO of Safeen and AD Ports’ maritime cluster Ammar Al Shaiba said.

AD Ports has also been focused a lot on Asia: AD Ports has inked a heads of terms agreement with Kazakh company Semurg to potentially invest in Kazakh grain terminal Sarzha Multifunctional Marine Terminal in Kuryk Port. Its Fujairah Terminal was also looking to use its Etihad Rail connection to boost trade with Asia.

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