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Abu Dhabi Ports nears $2 billion buy of Meratus

Photo: Meratus meratus-containers.jpeg
Abu Dhabi Ports (AD Ports) is reported to be close acquire Indonesian logistics container shipping company PT Meratus Line.

The company owned by the Menaro family, was put up for sale in the summer with a valuation of $2 billion.

According to Linerlytica, AD Ports has emerged as the favoured buyer, the state-owned terminal operator seeking vertical integration of the maritime supply chain, following in the footsteps of its neighbour, DP World.

AD Ports began venturing outside its core port/terminals business into shipowning and operating in 2020, when it formed Safeen Feeders, starting out as a joint-venture with Singapore-based operator Bengal Tiger Line (BTL).

AD Ports’ shipping operation has expanded into marine and offshore services, dry bulk, tanker and ro-ro shipping.

“Despite the shipping downturn, AD Ports continues to expand, buying Spanish-headquartered logistics group Noatum in July, and last week 10 diversified offshore vessels from offshore supply vessel owner and operator E-NAV,” Alphaliner commented in its weekly newsletter.

Surabaya-based Meratus owns and operates 54 box ships, with a total capacity of 36,362 teus, has a 693 teu-vessel on order at Guangxin Shipbuilding and also owns six bulk carriers.

The company operates two terminals Jakarta and Surabaya which would extend AD Ports’ footprint and according to Alphaliner there could be a potential combined bid bet ween AD Ports and Meratus for Patimban port in West Java.