Abu Dhabi Ports is reported to be eyeing more shipowning expansion through a deal to take over Indonesian bulker and container ship company Meratus.
Consultancy Linerlytica reported that Abu Dhabi Ports has emerged as the favoured buyer as the Menaro family considers a sale.
The state-owned terminal operator and shipowner is said to be in serious discussions over a deal.
The Menaro family, which founded Meratus in 1957, was reported in July to be seeking a $2bn valuation for the business.
Neither side has commented so far.
Investment funds and other companies in the industry were known to have shown an initial interest.
VesselsValue lists Meratus as controlling 70 vessels worth $562m.
There are also more than 500 trucks operating on more than 45 routes.
Meratus expanded its service to Papua New Guinea in February and launched a direct China-Indonesia Express route last year.
The Indonesia-flagged fleet includes seven supramax bulkers, multipurpose and general cargo ships, and boxships ranging from feedermax to panamax.
Affiliate Meratus Advance Maritim runs a tug and barge business, and terminal operations include Tanjung Priok, Jakarta and Tanjung Perak Surabaya.
There is also an offshore shipping venture in partnership with domestic owner Wintermar, which controls four platform supply vessels.
Big shipping moves since 2020
Abu Dhabi Ports moved into shipowning in 2020 by setting up Safeen Feeders with Singapore’s Bengal Tiger Line.
It is in talks to acquire an 80% stake in Dubai-based Global Feeder Shipping (GFS).
A combination with GFS and Meratus would rank just behind the leading feeder operators X-Press Feeders and DP World-owned Unifeeder.
This month, Abu Dhabi Ports spent $200m to buy a fleet of offshore vessels from Mexico’s E-Nav Offshore.
The 10 ships were not identified, but TradeWinds cited sources familiar with the deal as saying they are Singapore-flagged units that E-Nav had acquired from Pacific Radiance Offshore in 2021.
Abu Dhabi Ports said the deal included MPP supply vessels, PSVs, diving support vessels and accommodation workboats, with an average age of nine years.
It has been building a mixed fleet of tankers, bulkers and boxships.
Two MR tankers are on order at Hyundai Mipo in South Korea for delivery in 2025.
The group went on a purchasing spree in May, splashing out AED 955m ($260m) to buy five bulk carriers and three crude oil tankers.
