AD Ports' Noatum enters Egypt's maritime market by acquiring Safina

Noatum Maritime, a Spanish multinational, is acquiring a controlling stake in the Egyptian maritime agency Safina to expand its presence in Egypt's maritime market and the entire Middle East region. According to an official release by Noatum, the deal is expected to close in the third quarter of this year. Noatum Maritime was acquired by the UAE-based AD Ports Group Company in 2023, following a deal that began in 2022.

With this latest acquisition, Noatum Maritime aims to benefit from Safina's expertise, capacity, and reputation in Egypt's maritime agency market. This move represents a significant step for the Spanish firm as part of its ongoing expansion activities across the Mediterranean, which includes the recent launch of its offices in Turkey. The company's growth in the Middle East region aligns with its global strategy while integrating well into AD Ports Group's broader presence in Egypt. This broader presence was recently marked by the signing of concession agreements for managing and operating cruise and Ro-Ro terminals at Safaga, Hurghada, Sharm El Sheikh, and Sokhna ports.

Over time, Safina has become a significant player in the Egyptian 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 will be well-positioned to reach new customers from a broader range of industries and enhance its local presence.

Safina has offices in six strategic locations across Egypt, including its headquarters in Cairo. This allows the company to offer agency services across 15 Egyptian ports, providing liner and tramp agency services as well as transit services through the Suez Canal. Safina holds a substantial market share in Mediterranean and Red Sea Egyptian Ports, including Sokhna, Adabiya, Damietta, Port Said, and Alexandria.

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

While welcoming the Egyptian maritime agency, Terry Gidlow, Chief Executive Officer, Noatum Maritime, Noatum, Logistics Cluster, AD Ports Group, said: "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."