Abu Dhabi – Mubasher: EMSTEEL Building Materials and Oldendorff Carriers signed a new long-term freight agreement covering the import of EMSTEEL’s key raw materials to the UAE, according to a press release.
Valued at AED 600 million, the deal reinforced the two entities’ partnership that has played a key role in supporting the ADX-listed group's industrial growth and supply chain reliability.
Under the five-year agreement, Oldendorff Carriers will continue to provide efficient bulk-shipping services for EMSTEEL’s raw material imports, ensuring safe, reliable, and responsible maritime logistics.
It will also back the transportation of approximately 5.20 million tons annually of iron ore pellets (IOP) from multiple sources, serving as a critical logistical link between EMSTEEL and its IOP suppliers. This will enable seamless coordination, reliable deliveries, and strong collaboration across the supply chain.
Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, said: “The agreement ensures the steady and efficient flow of our raw materials, supporting our ability to produce the steel that underpins the region’s infrastructure, industrial development, and sustainable growth.”
EMSTEEL recently announced its annual financial results, recording a net profit after tax valued at AED 480.88 million in 2025.
