Safeen Drydocks, the joint venture between AD Ports Group and Dubai's Premier Marine Engineering Services, has signed two shipbuilding contracts totalling AED 1.3 billion.
The first involves constructing four 140-metre multipurpose vessels for AD Ports, each capable of carrying up to 300 containers, 1,000 cars, 100 trailers, and 105 passengers, serving cargo and logistics operations. The second contract, awarded by Nigeria's Oilbank Logistics Services, covers the construction of 18 specialised marine support units including tugboats and pilot boats for port operations and offshore logistics in West Africa.
AD Ports holds a 51% stake in Safeen, which was established in 2023 and operates under the Noatum Maritime portfolio. The deals represent some of the largest shipbuilding programmes Safeen has undertaken, reinforcing the UAE's strategic push to develop domestic maritime manufacturing capacity amid regional trade route disruptions linked to the Iran conflict.
Gulf Economist Staff Writer