Dubai: The AD Ports Group will be paying Dh459 million for five bulk carriers as part of a major fleet expansion, which will also see the induction of three crude oil tankers for Dh496 million.

The bulk carriers will help with the movement of general and dry bulk cargo between Fujairah Port and Bangladesh, the Indian subcontinent, South-East Asia, and other destinations.

The purchase of the crude oil tankers form part of the seven-year vessel pooling agreement in December 2022 with KazMorTransFlot (KMTF), a subsidiary of Kazakh National Oil Company (KazMunayGas), for the transport of crude oil internationally.

More to follow...