In a new development, Dubai’s logistics company, Aramex has signed a JV agreement with Abu Dhabi’s AD Ports Group to form an entity, which will lease or buy space in shipping containers to move goods for freight forwarding companies. The non-vessel owning common carrier (NVOCC), in which Aramex will have a 49 per cent stake, will provide ocean-bound container cargo services, with a target of 10,000 containers in the short-term with further growth over the medium to long-term. The JV aims to further enhance and develop shipping connectivity across the GCC, Indian, and East and West African markets, Aramex said in a Dubai Financial Market (DFM) filing.
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