The 3 AD Ports shipping companies - Safeen Feeders, Transmar and Global Feeder Shippping (GFS) - will launch a new service connecting Karachi, Abu Dhabi, Jebel Ali, Dammam, Jeddah, Aqaba, Sokhna, Adabiya, Port Sudan, Djibouti. The service is scheduled to start in December 2022, with further details still to be advised.
Maersk and Global Feeder Shipping (GFS) will launch a new Intra ME/ISC service that will cover Jebel Ali, Dammam, Jebel Ali, Mundra, Pipavav, Jebel Ali with two ships, the 1,740 teu BIG DOG and 1,613 teu GFS RANNA (ex HERA). BIG DOG will phase in on 29 November 2022 at Jebel Ali while GFS RANNA, coming out of drydock, will phase in also at Jebel Ali on 6 December 2022. Maersk brands this new service as the Shaheen Express. GFS has not yet released details on the new service. Shaheen Express po
AD Ports have agreed to buy an 80% stake in Dubai based Global Feeder Shipping (GFS) on 3 November 2022 for a total consideration of $800m, implying a total valuation of $1 Bn for GFS. In the last 12 months, GFS recorded total revenues of $1,085m, EBITDA of $521m and Net Profit of $481m, with an EV/EBITDA multiple of 1.9x for the transaction. According to AD Ports, it assumed a correction of 60% in the freight rates over the coming years from the peak rates in 2022 before arriving at the agre
Global Feeder Shipping (GFS) will launch a new Spain-Turkey Service (STS) starting from 9 November 2022 calling at Ambarli, Gebze, Valencia, Barcelona, Ambarli. The service will turn in 2 weeks with the 1,440 teu GFS SAPPHIRE and the 679 teu SEADRAGON. GFS will partner with ONE on this intra-Med service. Spain-Turkey Service (STS) port rotation