AD Ports raises GFS stake to 81% in Dh1.1 billion deal

Dubai: AD Ports Group has acquired an additional 30% stake in Global Feeder Shipping for Dh1.1 billion, raising its ownership in the Dubai-based container feeder shipping company to 81% as it moves to strengthen control over one of its key maritime assets.

The Abu Dhabi-listed trade, logistics and ports operator said the transaction was carried out through a call option linked to its earlier acquisition of a 51% stake in GFS in February 2024. The option allowed AD Ports Group to increase its ownership by December 2026.

The additional stake was acquired at the same enterprise value of Dh3.67 billion set in 2024. The company said the deal will be funded through a mix of debt and asset monetisation transactions.

Why the deal matters

GFS is the world’s fourth-largest container feeder shipping line by capacity and is central to AD Ports Group’s container feeder shipping business, which moves cargo between major transit hubs and smaller ports using small and medium-sized vessels.

The increase in ownership gives AD Ports Group greater strategic and operational control over GFS at a time when regional trade routes continue to face disruption. The company said deeper integration of GFS with its ports, economic cities and logistics operations will strengthen its end-to-end trade and logistics offering for customers.

GFS has expanded AD Ports Group’s reach across the GCC, Indian Subcontinent, Red Sea, Far East, Mediterranean and Africa, while connecting its terminals to a broader network of economies. The company has also played a larger role in maintaining cargo flows in markets where other operators had reduced activity during periods of shipping disruption.

"Our increased ownership in GFS allows us to deepen its integration within the Group’s portfolio and enables further growth across our shipping business," said Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group. "We will now be in a stronger position to accelerate our journey to enable trade for our stakeholders, in line with the vision of our wise leadership.”

The transaction comes after a strong operating year for GFS. In 2025, the company transported 2.8 million TEUs and carried out more than 700 voyages across 89 ports in 54 countries. Since AD Ports Group acquired its initial 51% stake in February 2024, GFS has generated cumulative EBITDA of more than Dh1.8 billion.

Shipping business gains scale

Alongside SAFEEN Feeders and Transmar, GFS forms the core of AD Ports Group’s container feeder shipping operations, which support the movement of goods in and out of the UAE.

In 2025, revenue from the group’s overall container feeder shipping business rose 17% year-on-year. The maritime and shipping cluster also remained a major contributor to group earnings, with revenue rising 33% to Dh10.7 billion and EBITDA increasing 25% to Dh2.5 billion.

The cluster accounted for 51% of AD Ports Group’s revenue and 45% of its EBITDA in 2025, reflecting the growing weight of maritime and shipping within the group’s wider portfolio across ports, economic cities and free zones, logistics and digital services.

“Today marks an important step for GFS as we become more closely integrated into AD Ports Group, reinforcing the strength of our partnership," said Amir Maghami, CEO of Global Feeder Shipping. "While the shipping industry continues to adapt to volatile market conditions, AD Ports Group’s support has enabled us to steadily expand our services and grow our fleet. Staying flexible and keeping customers at the centre of what we do has always been our priority, and I am excited to build on this momentum as we broaden our network and deliver even greater value in the months and years ahead.”