AD Ports to set up JV to boost Caspian businesses

n AD Ports Group recently signed an agreement with Kazakhstan’s KMTF (Kazmortransflot) to launch a joint venture (JV) to provide offshore and shipping services for energy companies in the Caspian Sea and to tender for projects worth over US$ 780mn.

The JV, which will be 51% owned by AD Ports Group and 49% by KMTF, a fully owned offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas), will look to offer services, including offshore logistics.

At a later stage, the JV will also offer container feedering, Ro-Ro and crude oil transportation in the Caspian Sea and the Black Sea, the

Abu Dhabi Stock Exchange-listed AD Ports Group said in a regulatory filing on Wednesday.

AD Ports Group and KMTF also signed a seven-year vessel pooling agreement. The JV includes the provision of several tankers for the transportation of crude oil internationally, with plans to jointly carry 8-10mn tonnes of crude annually in the medium term.

“This new joint venture with KMTF opens the door to enormous opportunities in the Caspian Sea, which plays a key role in global energy production, and is serviced by prominent players within the energy sector,” stated Falah Mohammed Al Ahbabi, Chairman, AD Ports Group.

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AviLease and SIRC sign landmark MoU

Abu Dhabi Airports appoints Maureen Bannerman as its new Chief Commercial Officer

n Abu Dhabi Airports recently announced the appointment of Maureen Bannerman as the company’s new Chief Commercial Officer (CCO) effective from January 2, 2023.

A highly accomplished leader and seasoned professional with over 20 years’ experience primarily within the aviation industry, Bannerman has joined Abu Dhabi Airports following a successful tenure as Chief Executive Officer and Managing Director of APM Terminal at the Khalifa Bin Salman Port in Bahrain.

“We are confident her exemplary track record will help realize our growth strategies and commercial plans as an enabler and a catalyst for tourism, trade, logistics and business in the emirate and the UAE,” commented HE Eng. Jamal Salem Al Dhaheri, Managing Director & CEO, Abu Dhabi Airports.

In her new position, Maureen has assumed roles and responsibilities including developing and implementing commercial plans that align with Abu Dhabi Airports’ business strategy and financial objectives, as well as identifying and pursuing viable new commercial opportunities.

As CCO, she will also play a pivotal role in the company’s long-term strategic growth plans in line with Abu Dhabi Economic Vision 2030.

n AviLease, the aircraft lessor, and the Saudi Investment Recycling Company (SIRC) have signed a Memorandum of Understanding (MoU) to launch the production and distribution of sustainable aviation fuel (SAF) to AviLease’s fast-growing network.

AviLease, will support the partnership by committing to an offtake agreement and will market SAF contracts to its global airline customer base. SIRC will act as financier and facilitator, assembling the necessary expertise in production technology and distribution capabilities to leverage the unique proposition of Saudi Arabia, a press communique indicated.

“Through this unique partnership, we will be able to bundle the supply of SAF into our offerings, which we believe will trigger large-scale production of SAF in a country that has the natural competitive advantages to become a low-cost producer and has already made clear commitments towards energy transition,” remarked Edward O’Byrne, Chief Executive Officer, AviLease.

“Our partnership with AviLease offers us direct access to the growing airline industry and allows us to tap into the enormous potential of SAF,” commented Eng Ziyad Mohammed AlShiha, Chief Executive Officer, SIRC.