Noatum Maritime Expands Presence In Egypt With Strategic Acquisition Of Safina Shipping Services

Noatum, part of AD Ports Group, has announced its acquisition of a majority stake in Safina B.V., a prominent maritime agency and cargo service provider in Egypt and the Middle East. This deal is set to finalise in Q3 2024.

The acquisition aligns with Noatum Maritime's strategic growth plans, leveraging Safina’s established reputation and expertise in Egypt’s maritime market. This move also complements AD Ports Group’s broader presence in Egypt, recently marked by concession agreements for managing cruise and Ro-Ro terminals at several Egyptian ports.

Noatum Maritime's acquisition of Safina is a significant step in its ongoing expansion across the Mediterranean. Recently, Noatum launched offices in Türkiye, further solidifying its presence in the region. The Middle East remains a key market for Noatum's global strategy.

Safina has become a major player in Egypt's maritime industry, providing comprehensive agency services and logistics to shippers in the metals, minerals, and fertilisers sectors. With Noatum’s extensive international network, Safina can now access new customers from diverse industries and strengthen its local presence.

Safina operates from six strategic office locations, including its headquarters in Cairo. These locations enable it to provide agency services across 15 Egyptian ports. The company offers liner and tramp agency services as well as transit services through the Suez Canal.

Terry Gidlow, Chief Executive Officer of Noatum Maritime, Noatum Logistics Cluster at AD Ports Group, stated: "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 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."

Rebranding and Integration

Safina will be rebranded as Noatum Maritime Egypt and integrated into the Noatum Maritime ecosystem. Its founders will retain a minority stake in the business and continue to support its growth.

Safina enjoys a sizeable market share in both Mediterranean and Red Sea Egyptian ports. These include Sokhna, Adabiya, Damietta, Port Said, and Alexandria.

This acquisition marks a significant milestone for Noatum Maritime as it continues to expand its footprint across key regions.

With inputs from WAM