EMSTEEL Group Signs Long-Term Maritime Transport Agreement with Oldendorff Carriers
EMSTEEL Group (ADX: EMSTEEL), one of the region’s largest publicly listed producers of steel and building materials, has announced the signing of a renewed maritime transportation agreement for raw materials with Oldendorff Carriers.
Under the renewed agreement, Oldendorff Carriers will continue to provide dedicated maritime shipping services for raw material shipments to EMSTEEL’s steel manufacturing facilities in Abu Dhabi, with a strong focus on the highest standards of operational safety, supply reliability, and responsible shipping practices.
The agreement extends more than 20 years of continuous cooperation between EMSTEEL and Oldendorff Carriers, reinforcing a strategic partnership that has played a vital role in supporting EMSTEEL’s industrial growth and strengthening the reliability of its supply chains. The five-year agreement carries an estimated total value of approximately AED 600 million over its duration, highlighting the scale and strategic importance of the partnership.
Under the agreement, Oldendorff Carriers will transport approximately 5.2 million tonnes of iron ore pellets annually from multiple sources, serving as a critical logistics link between EMSTEEL and its iron ore suppliers. This arrangement ensures seamless operational coordination, consistent delivery schedules, and enhanced collaboration across all stages of the supply chain.
Commenting on the agreement, Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, stated: “This long-term agreement with Oldendorff Carriers reflects EMSTEEL’s commitment to partnering with trusted organizations that share our values of efficiency and reliability. The agreement will ensure the continuity and efficiency of raw material supplies, strengthening our readiness to meet the needs of the infrastructure and industrial sectors while supporting sustainable development pathways.”
Patrick Hutchins, CEO of Oldendorff Carriers, added: “We are pleased to continue our long-standing partnership with EMSTEEL, which has been built over many years on trust and transparency. We look forward to building on this solid foundation to further strengthen our cooperation in the coming phase.”
The renewed partnership underscores both parties’ commitment to long-term collaboration based on operational excellence and shared growth, while supporting EMSTEEL’s production requirements and contributing to the advancement of the regional industrial sector.