Emil_Pellicer

Safeen Feeders & Invictus Investment launch new dry bulk services

 
AD Ports Group’s Safeen Feeders has signed a strategic agreement with Invictus Investment to launch a new international dry bulk shipping service. 
 
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.  

In addition, Safeen Feeders and Invictus Investment will form a joint venture to operate the service. The joint venture will be owned 51% by Safeen Feeders and 49% by Invictus Investment. Under the joint venture agreement, Invictus Investment will commercially operate the vessels, and with Invictus’ existing trading volumes added to the program, it is expected to generate strong returns on the investment. 
 
The two companies are expected to initially commit approximately AED 463 million (USD 126 million) for the investment in the vessels. Five ships of varying sizes are expected to be deployed within six months, starting in September 2022, with additional vessels envisaged as part of future growth plans. 
 
The joint venture will serve as the carrier for Invictus’ dry-bulk trading business, which currently ships more than three million tonnes of commodities annually, principally wheat and complementary grains. The majority of the ships’ capacity will be provided to support this business.  

AD Ports Group legal team is led by group general counsel Emil Pellicer (pictured) 
  
 
 

Safeen Feeders & Invictus Investment launch new dry bulk services

suzan.taha@lcpublishinggroup.it

legalcommunitymena.com

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram