The joint venture will be owned 51% by SAFEEN Feeders and 49% by Invictus Investment. Earlier this year SAFEEN Feeders signed a long-term trade facilitation and shipping agreement with Saif Powertec Limited. Saif Powertec, a logistics and container supply chain management provider, is building a multipurpose jetty at the Mongla port with an estimated investment of around Tk 1,600 crore to handle both container and cargo ships, said officials yesterday. We are using cookies to give you the best experience on our website. Container News Team - April 19, 2022 0. It also handles containers at Mongla and Pangoan ports. agreement with AD Ports' Safeen Feeders for 3 containerships of 1,700-2,100 teu Register for free The listed company also planned to expand its operations into gas and oil exploration with Uzbekistans Ariel Service & Support by investing around Tk 473 crore. The intention is to charter three vessels at the outset, offering 1,7002,100 TEU capacity each, which will enable Saif Powertec to realise significant returns on this route and deliver real benefits for our customers.. In April 2022, SAFEEN Feeders signed another long-term trade facilitation and shipping agreement with Saif Powertec Limited to facilitate trade and cargo services from Fujairah to Bangladesh over a period of 15 years. Digitalizing the maritime sector set to boost the competitiveness and resilience Kerala budget speech 2021-2022 :Dr. T.M Thomas Issac Finance Minister How effective is a single vaccine dose against Covid-19? Additionally, in October 2021, Saif Powertec's subsidiary Saif Logistics Alliance signed an agreement with the Container Company of Bangladesh Limited (CCBL), a subsidiary of the Bangladesh Railway, to build the country's first multimodal container terminal at Halishahar in the port city at an estimated cost of Tk500 crore. "In addition to boosting trade between the UAE and Bangladesh, the collaboration with Saif Powertec brings a new opportunity to deliver an enhanced cargo service to customers across the Indian subcontinent, South-East Asia, as well as other high-profile global destinations." Risk factors will also decline," said the official of Saif Powertec. EBL Securities also said the Bangladesh Inland Container Depots Association (BICDA) recently increased the charges for handling export-laden containers by 25 per cent and import-laden containers by 35 per cent on August this year. Read more about NHST Media Group here. Managing director of the company Tarafdar Moham Saif Powertec Donate TK 25,000 each month for Chattogram Port gets donation of masks, PPEs. Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group, said: Under the guidance of our wise leadership, AD Ports Group continues to support the opening of new routes to stimulate global trade and drive new economic opportunities. AD Ports Group, in a press release, said that under the terms of the agreement, Safeen Feeders and Saif Powertec will collaborate on cargo services from the UAE to Bangladesh over a period of 15 years. Copryright 2022, By India Shipping News | All Rights Reserved. The company is also involved in logistics and civil engineering, electrical equipment and automotive or car batteries. Out of 32 lakh TEUs of containers handled at the Chattogram port in the last fiscal year, around 15 lakh TEUs were inbound, according to Amin. Jun 19, 2022 10:22:24 a.m. Saif Powertec Ltd, a listed company, has decided to take over 100% of the capital of Saif Maritime LLC at a cost of Tk 12.69 million. that would be deployed on services calling directly at Bangladesh. Tarafder MD Ruhul Amin, Managing Director of Saif Powertec, said: We are pleased to announce the start of our close partnership with AD Ports Groups SAFEEN Feeders, which has greatly enhanced our capabilities as Bangladeshs sole terminal operator to facilitate the movement of dry cargo at the international level. These goods were transported to other parts of the country from the port through trucks which is risky and costly. In addition to facilitating the movement of general cargo and dry bulk cargo between Fujairah Port in the UAE to port facilities in Chattogram and Mongla in Bangladesh, the new bulk shipping offering will also oversee cargo operations to the Indian subcontinent, South-East Asia, and other global destinations. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. The company also acts as a backup container-handling operator at Pangaon Inland Container Terminal and Kamlapur Inland Container Depot. AD Ports Group's feeder service, SAFEEN Feeders, has signed a long-term trade facilitation and shipping agreement with Saif Powertec Limited, a listed firm in Bangladesh that is active in ports, logistics, civil engineering, and power sectors. The protection material includes 500 three-layer surgical masks, 200 rubber gloves, 25 reusable a Saif Powertec becomes first local firm to operate ships from abroad, Rupayan Centre(8th Floor),72, Mohakhali C/A,Dhaka-1212,Bangladesh, Khawaja Tower, 95,Biruttam A.K. Saif Powertec is the country's lone terminal operator, handling around 58% of containers at the Chattogram Port. Heavily loaded trucks also cause damages to the roads, he said. SAFEEN Feeders and Saif Powertec ink long-term shipping deal. Get started now for absolutely FREE, no credit card required. Tarafder MD Ruhul Amin, managing director of Saif Powertec, noted this new charter deal is expected to boost container shipping services of the company. 2022 Linerlytica (ver. We have structured the agreement to reduce exposure to market volatility and ensure a positive return on our investment in these vessels," commentedCaptain Ammar Mubarak Al Shaiba, acting CEO of the maritime cluster and SAFEEN Group, AD Ports Group. Under the terms of the agreement, the two companies will work closely together to facilitate trade and cargo services from Fujairah to Bangladesh over a period of 15 years. managing director Saif Powertec Limited, a public limited company has made a contribution of Tk2 crore to the Prime Minister's Relief and Welfare Fund to help fight the outbreak of coronavirus.All the employees of the company contributed their one-day salary amounting to Tk65 lakh and the rest of the amount was provided from the company's own fund, said a press r. Read the article online at: https://www.drybulkmagazine.com/shipping/20042022/safeen-feeders-signs-new-agreement-with-saif-powertec-for-cargo-services/. Moreover, it is also heavily involved in the import, trade, assembling, and installing of generators, substations, electrical equipment, and gridlines, as well as installing or establishing power plants. SAFEEN Feeders will invest approximately AED 375 million (USD 102 million) to purchase the vessels. The jetty will be able to handle two ships at a time after the completion of its construction by June next year, said Tarafder Md Ruhul Amin, managing director of Saif Powertec. Saif Logistics Alliance, a subsidiary of Saif Powertec, signed an agreement with the Container Company of Bangladesh Limited (CCBL), a subsidiary of Bangladesh Railway in October last year to build a multimodal container depot at Halishahar near the Chattogram Port Railway Yard with an estimated cost of Tk 308 crore. Boasting a capacity of 55,000 DWT, SAFEEN Feeders bulk carriers, which will be offered on a bareboat or time charter basis, are expected to realise significant returns and deliver real benefits for our customers.. covid pandemic AD Ports subsidiary extends long term partnership to include three feeder containerships. The project was scheduled for completion in June this year, but it was delayed because of the pandemic, rainfall and problems in the design of the jetty, Amin said. Port News. Dry Bulk, Under the terms of the agreement, SAFEEN Feeders will charter an initial three vessels to Saif Powertec at pre-agreed rates for a duration of 15 years, starting in November 2022 to be deployed on global routes connecting Bangladesh. Published by This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages. 1.0.7). Tel: +44 (0)1252 718 999 ,02333324106,02333324107,02333324108(Fax). SAFEEN Feeders announced it will invest approximately US$102 million to purchase the container vessels. Senior Lawyer Defence / Charterers & Traders, Underwriter/Senior Underwriter, Charterers & Traders. The terminal operator also established an IT-based subsidiary 88 Innovations Engineering Limited where it decided to invest 55 per cent of the total equity of the company, according to the EBL equity note. We are grateful to the premier for her support which helps many businessmen to survive," Tarafder Md Ruhul Amin said. You can read more about how we handle your information in our privacy policy. According to the deal, SAFEEN Feeders will charter an initial three vessels to Saif Powertec at pre-agreed rates for a duration of 15 years, starting in November 2022 to be deployed on global routes connecting Bangladesh. Besides, we need to examine legal provision whether another terminal could be built under the same contract.". Each ship will have a capacity of 55,000 DWT. The photo was taken last week. As part of the collaboration, SAFEEN Feeders is providing eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT . Global container volumes seem to decline in recent months as the historic growth cycle comes to an end, according to BIMCO. Although Bangladesh is ahead in other sectors, we rely on foreign firms here [for this]," he said. In March this year, SAIF Powertec reached an agreement with Safeen Feeders, a subsidiary of Abu Dhabi Ports Company PJSC to operate eight bulk carrier vessels for shipping dry bulk cargoes from Fujairah Port to Chittagong Port, according to an equity note prepared by EBL Securities, a stockbroker. Deputy Editor Here are the Bangladeshi port operator Saif Powertec will enter the container shipping The companys consolidated earnings per share (EPS) stood at Tk 1.12 for July 2021-March 2022 compared to Tk 0.71 for July 2020-March 2021. mohammed bin Under the terms of the agreement, SAFEEN Feeders will charter an initial three vessels to Saif Powertec at pre-agreed rates for a duration of 15 years, starting in November 2022 to be deployed on global routes connecting Bangladesh. "Our newest collaboration with Saif Powertec not only introduces a new offering for customers that is a fast and low-cost service for their dry bulk shipping needs, but will also have a tremendous impact on maritime trade across our combined spheres of influence," said Captain Maktoum Al Houqani, CEO of Maritime Cluster at AD Ports Group. Tarafder MD Ruhul Amin pointed out that "the intention is to charter three vessels at the outset, offering 1,7002,100 TEU capacity each, which will enable Saif Powertec to realise significant returns on this route and deliver real benefits for our customers.". AD Ports Group have announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation and shipping agreement with Saif Powertec Limited, a listed firm in Bangladesh that is active in ports, logistics, civil engineering, and power sectors. Jessica Casey, As part of the collaboration, SAFEEN Feeders is providing eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT) capacity. Saif Maritime LLC is incorporated in the United Arab Emirates and run by a team of qualified shipping professionals. Copyright Container News 2021, All Rights Reserved. In the first half of this fiscal year, its revenue slightly increased to Tk217.72 crore, but the net profit came down to Tk37.46 crore compared to the same period in the last fiscal year. The company was expanding into gas and oil exploration with Uzbekistan's Ariel Service & Support by investing Tk473 crore. SAIF Port Holdings Ltd, a subsidiary of SAIF Powertec Ltd, has been awarded to construct and operate two jetties at Mongla Port- the second busiest container port in Bangladesh. The MD pointed out that currently, all the gas and oil explorations in the country were conducted by foreign firms. It also has Tk 135 crore as surplus reserves. The vessels are each expected to bring in an income of Tk154 crore for Saif Powertec, registering a profit of Tk15.48 crore. Other areas of potential collaboration involving Saif Powertec include the leasing of berths and potentially jetties to develop and improve the cargo operations, along with the adoption of warehouse storage solutions offered by AD Ports Group. Once completed, the jetty would be able to handle nearly one crore tonnes of break-bulk cargoes and 350,000 TEUs of containers at its peak capacity. Both companies will jointly own and operate bulk shipping services that will promote maritime trade between the MENA region and Asian Subcontinent. "The cost and time for shipping containers will come down to a large extent if we can divert a portion of containers from Chattogram port. This means that every time you visit this website you will need to enable or disable cookies again. Safeen will invest $102m to acquire the ships, with the first ship scheduled to The deal is valued at TK12.69 million (UAE Dirhams 500,000). For this, Saif Powertec has launched a subsidiary company, Saif United Shipping & Trading, in the UAE. The two companies are expected to initially commit approximately US$126 million for the investment in the vessels and five ships of varying sizes are expected to be deployed within six months, starting in September 2022, while additional vessels may be deployed in the future. Tarafder Md Ruhul Amin said the terminal would be launched in 2023. September 27, 2022 Bangladeshi port operator Saif Powertec will enter the container shipping markets for the first time in November 2022. It, however, did not disclose the amount of investment made in the business. SAIF POWERTEC LIMITED : Shareholders Board Members Managers and Company Profile | BD0623SPTEC2 | MarketScreener Log in Sign up Markets News Analysis Stock Picks Portfolios Watchlists Rankings Screeners Tools Our Services Under the terms of the agreement, the two companies will purchase ships through Special Purpose Vehicles, owned 85% by SAFEEN Feeders and 15% by Invictus Investment, while the two partnerswill form a joint venture to operate the service. united states 72, Mohakhali C/A, Rupayan Centre (8th Floor) Dhaka-1212, Bangladesh. "We are now recovering from the plunge caused by the pandemic. All rights reserved to thehaualgenews.com | Developed by Softranet, Protest against Adanis Vizhinjam sea port called off for now, MSC Now Directly Connects India and The West Mediterranean, Evergreen, Yang Ming and CMA CGM ready further boxship orders, Interasia Lines books 3,055 teu trio at Nihon Shipyard. Tarafder MD Ruhul Amin, Managing Director of Saif Powertec, said: We are delighted to expand our ongoing partnership with AD Ports Groups SAFEEN Feeders through this new charter agreement, which will enable us to expand our portfolio of container shipping services. Mohamed Juma Al Shamisi of AD Ports sign the long term charter agreement for three boxships. The United Arab Emirates-based company will charter to the Bangladeshi company for up to 15 years at pre-agreed rates as part of a plan to support trade in the region. "Mongla port has huge potential," Amin said, adding that nearly 90 per cent of containers are Dhaka-bound. SAFEEN Feeders will invest approximately AED 375 million (USD 102 million) to purchase the vessels.The long-term charter agreement with Saif Powertec will help them gain access to critical assets while providing stable returns on investments to AD Ports Group over a long-term horizon. Contacted, the company's Managing Director Tarafder Md Ruhul Amin, however, refused to comment on the matter. Saif Powertec will acquire Saif Maritime LLC at a cost of Tk 12.69 million equivalent to 500,000 UAE Dirhams (1.00 UAE Dirham = 25.38 Tk), the company said. Khandokar Road,Mohakhali C/A, Dhaka-1212,Bangladesh, Makkah Madinah Trade Centre(17th Floor)78,Agrabad C/A,Chattogram,Bangladesh, Copyright 2022 Saif Powertec Ltd. All Rights Reserved - Desinged & Developed By Saif Power Group, Saif Plastic & Polymer Industries Limited. "Bangladesh has been underserved by direct services and this new agreement will enable us to fill a substantial gap in the market and drive UAE-Bangladesh trade," he added. All rights reserved The vessels will be operated by Saif United Shipping. Captain Maktoum Al Houqani, CEO Maritime Cluster, AD Ports Group, said: Our newest collaboration with Saif Powertec not only introduces a new offering for customers that is a fast and low-cost service for their dry bulk shipping needs, but will also have a tremendous impact on maritime trade across our combined spheres of influence. Until now, 45 per cent of the construction work of the jetty at the Mongla port has been completed and around 50 per cent of the investment has been made, Amin said. It has signed a 15 year charter If you disable this cookie, we will not be able to save your preferences. It will make the investment and operate the port for 30 years. Saif Powertec becomes first local firm to opera 02222293312,02222288291,02222283574,02222299571,02222293330(Fax), 02333324071,02333324072 SAFEEN Feeders signs new agreement with Saif Powertec for cargo services. SAFEEN Feeders and Saif Powertec ink long-term shipping deal. Safeen Feeders have a capacity of 55,000 . Tel:02222261128,02222291597. Saif Powertec, a logistics and container supply chain management provider, is building a multipurpose jetty at the Mongla port with an estimated investment of around Tk 1,600 crore to handle. saudi arabia expo dubai Please enable Strictly Necessary Cookies first so that we can save your preferences! As part of the collaboration, SAFEEN Feeders is expected to provide eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT) capacity to Saif Powertec. As part of the collaboration, SAFEEN Feeders provides eight Supramax bulk carriers with 55,000 Deadweight Tonnage (DWT) capacity. In April 2022, SAFEEN Feeders signed another long-term trade facilitation and shipping agreement with Saif Powertec Limited to facilitate trade and cargo services from Fujairah to Bangladesh over a period of 15 years. In the first seven months of the current financial year, the value of exports already stands at $0.41 billion. Safeen Feeders has inked an AED 375m ($102m) deal to purchase and lease three feeder container ships to Bangladeshi conglomerate Saif Powertec. AD Ports Group has announced that its feeder service, SAFEEN Feeders, has signed a long-term trade facilitation and shipping agreement with Saif Powertec Ltd, a listed firm in Bangladesh that is active in ports, logistics, civil engineering, and power sectors. AD Ports Group's SAFEEN Feeders has signed a long-term trade facilitation and shipping agreement with Saif Powertec Limited, a listed firm in Bangladesh that is active in ports, logistics, civil engineering, and power sectors. FE REPORT | According to the equity note, the companys revenue was expected to decline by 16.1 percent for the first nine months (July-March) of the fiscal year 2021-22 owing to a slowdown in port operations caused by a significant decline in export and import operations amid the macroeconomic strains including the domestic currency depreciation, depletion of the foreign currency reserve, and rising fuel costs. Saif Powertec Limited is set to become the first Bangladeshi company to operate in the shipping and logistics sector abroad. After acquiring the company, the estimated total annual revenue and net profit will be Tk 259.80 million and Tk 38.90 million respectively, said Saif Powertec. Port cargo traffic growth in November slows to 3% amid trade NVOs can benefit as box lines struggle through years of pain. Under the terms of the agreement, the two companies will . In addition to boosting trade between the UAE and Bangladesh, the collaboration with Saif Powertec brings a new opportunity to deliver an enhanced cargo service to customers across the Indian subcontinent, South-East Asia, as well as other high-profile global destinations.. The company handles export and import containers at the Chattogram Container Terminal and the New Mooring Container Terminal at the Chattogram port. Tarafder MD Ruhul Amin, Managing Director of Saif Powertec, commented: We are pleased to announce the start of our close partnership with AD Ports Groups SAFEEN Feeders, which has greatly enhanced our capabilities as Bangladeshs sole terminal operator to facilitate the movement of dry cargo at the international level. vice president, How To Get A Personal Loan In The United Arab Emirates, Masaka Kids Africana: Dont give up and give back Ugandan childrens childhood, Mosque, Messi and Malayalis The New Indian Express, UAE targets 50 million containers by 2032, Dubai airport traffic returns to pre-pandemic levels, United Arab Emirates: A man demands 250,000 Dh from a woman for damage to her reputation News, UAE: 50% reduction on road fines announced in the third emirate News, World Cup excitement inspires children in Qatar to fight obesity, Qatar World Cup: Over 12,000 UAE fans sign up for luxury matchday packages, HSBC pledges $ 5 billion in loans to UAE businesses to go global | Salaam Gateway, MobiKwik valued at $ 700 million after $ 20 million funding round from Abu Dhabi fund, Delta variant: Australian Covid-19 response team holds emergency meeting amid outbreak News, UAE is Egypts largest trading partner in the Middle East with $ 4.11 billion in 2020. From November 1st NHST Media Group is responsible for controlling your data on TradeWinds. The United Arab Emirates-based company will charter . al nahyan ", , Seeks to set up another multimodal container terminal on railways land in Narsingdi, Tue Feb 15, 2022 12:00 AM Last update on: Tue Feb 15, 2022 12:00 AM, An ongoing project for the Development and Operation of Two Jetties at Mongla Port, Bagerhat, Bangladesh being implemented through SAIF Port Holdings by Mongla Port Authority. Today's agreement was signed by the Captain Ammar Mubarak Al Shaiba and Managing Director at Saif Powertec Limited Muhammad Ruhul Amin Tarafder. Trade facilitation and shipping agreement with Saif Powertec Limited is set to become the time... You can read more about how we handle your information in our saif powertec shipping policy by investing Tk473 crore whether! Privacy policy for 30 years the amount of investment made in the business has signed a year. 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