Emsteel, Oldendorff Carriers sign $163m raw material freight deal

18/02/2026 05:47 AST

Emsteel Group, one of the region's largest publicly traded integrated steel and building materials manufacturers, and Oldendorff Carriers have announced the signing of a new long-term freight agreement covering the import of Emsteel's key raw materials to the UAE.

Under the renewed agreement, Oldendorff Carriers will continue to provide dedicated and efficient bulk-shipping services for Emsteel's raw material imports, ensuring safe, reliable and responsible maritime logistics.

The agreement builds on more than 20 years of close collaboration between Emsteel and Oldendorff Carriers, reinforcing a partnership that has played a key role in supporting Emsteel's industrial growth and supply chain reliability.

Structured as a five-year agreement with a total indicative value of approximately AED600 million ($163.38 million) over the contract term, the agreement reflects the scale and strategic importance of the partnership. Under the agreement, Oldendorff Carriers supports the transportation of approximately 5.2 million tonnes annually of iron ore pellets (IOP) from multiple sources, serving as a critical logistical link between Emsteel and its IOP suppliers, and enabling seamless coordination, reliable deliveries, and strong collaboration across the supply chain.

Eng Saeed Ghumran Al Remeithi, Group CEO of Emsteel, said: "This long-term agreement with Oldendorff Carriers reaffirms our commitment to working with trusted partners who share our values of reliability and performance. 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."

Patrick Hutchins, CEO of Oldendorff Carriers, said: "We are proud to continue this long-standing partnership with EMSTEEL. The collaboration between our teams over the years has been built on trust and transparency, and we look forward to further strengthening our cooperation in the years ahead."

The renewed partnership underscores the shared commitment of both companies to long-term collaboration, operational reliability and mutual growth, supporting Emsteel's production requirements and the continued development of the region's industrial sector.

Trade Arabia