Latest news with #Gulftainer
Trade Arabia
6 days ago
- Business
- Trade Arabia
Gulftainer appoints Farid Belbouab as Group CEO
Gulftainer, the UAE-headquartered global port and logistics solutions provider, has appointed Farid Belbouab as Group Chief Executive Officer, effective June 1. Belbouab is a seasoned supply chain and logistics leader with over 20 years of international experience. He joins Gulftainer from Meratus Group, one of Southeast Asia's leading maritime and logistics companies, where he served as CEO. Prior to that, he held senior leadership roles at CMA CGM, driving business growth across Africa and Asia. In his new role, Belbouab will focus on advancing Gulftainer's transformation agenda by leveraging innovation and technology to enhance operational efficiency and customer experience. He will work closely with the Board, partners, and clients to expand the company's global footprint and solidify its position as a forward-thinking, customer-centric logistics provider. Belbouab succeeds Peter Richards, who steps down as Group CEO after an exceptional 38-year tenure, including nearly 20 years at the helm. Richards joined Gulftainer in 1987 and has been instrumental in guiding the company's evolution from a local UAE terminal operator to an internationally recognised name in port and logistics services. While retiring from day-to-day management, Peter will continue to support Gulftainer in an advisory capacity and as a member of the Executive Board. Reflecting on his journey, Richards said: 'Over the years, I have often been asked what makes Gulftainer special. My answer has always been the same — it's our people, and the pride they take in doing their best for their families and their Gulftainer family. As we continue to focus on delivering long-term value to our customers, I extend my best wishes to Farid and look forward to supporting him in this next chapter.' Commenting on his appointment, Belbouab said: 'It is an honour to take on the role of Group CEO at Gulftainer, especially as the company approaches its 50th anniversary. I look forward to building on the strong foundation laid by Peter and the team, and to working closely with all our stakeholders to drive future growth and excellence.'
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Space-tech startup PierSight adds strategic investors, bringing total funding to $8 million
PierSight, a space-tech company building a constellation of Synthetic Aperture Radar (SAR) and Automatic Identification System (AIS) satellites for 24/7, all‑weather maritime intelligence, today announced it has secured additional capital in a seed extension, bringing the company's total funding to $8 million. 'We have the necessary resources in place to reach our upcoming targets,' said Gaurav Seth, Co‑founder & CEO of PierSight. 'This round was about welcoming partners who bring frontline experience in ocean sustainability and port operations and can help us build a world‑class team.' The new investment comes from the Sustainable Ocean Alliance (SOA) and its venture arm, Seabird Ventures, as well as CE-Ventures, the corporate venture capital platform of Crescent Enterprises, and leading technology operators Nandan Reddy (Co-founder, Swiggy), Natasha Malpani Oswal (Investor, Boundless), and Sahil Lavingia (Founder, Gumroad). 'Our mission aligns well with UN Sustainable Development Goal 14, which is about conserving and sustainably using the oceans and marine resources. Sustainable Ocean Alliance's (SOA) investment is a strong signal that we take this mission seriously,' added Seth. 'It's a strong validation to have CE-Ventures as a backer, given that the parent, Crescent Enterprises, operates the region's largest privately-owned independent port operator through its subsidiary, Gulftainer,' said Vinit Bansal, Co-founder & CTO of PierSight. PierSight is collaborating with coast guards, insurers, shipping lines, port operators, and ocean conservation NGOs to address challenges such as monitoring Exclusive Economic Zones (EEZs), detecting Illegal, Unreported, and Unregulated (IUU) Fishing, monitoring oil spills, dark-vessel detection, and marine insurance fraud, among others. 'PierSight's ocean-focused satellite constellation will be highly scalable for conservation outcomes by exposing the 'dark side' of ocean activities like illegal fishing and offshore pollution dumping. Enforcing ocean regulations and achieving full ocean monitoring by 2030 is an area where conservationists, governments, and big ocean industries are all eager to collaborate.' Matt Mulrennan, Head of Investments, Sustainable Ocean Alliance. 'PierSight is pioneering a new frontier in satellite-based maritime intelligence with its innovative use of Synthetic Aperture Radar technology. Gaurav and Vinit's technical depth, combined with their proactive business thinking, has been incredible. We are proud to back a team that's building the next-generation ocean observability stack, solving critical challenges in global shipping, security, and environmental tracking.' Sudarshan Pareek, Senior Vice President and Head of Ventures, CE-Ventures. The company successfully launched its technology demonstration satellite, Varuna, in December 2024 and qualified payload subsystems to TRL-7. PierSights's first commercial SAR + AIS (VDES‑enabled) satellite is in development for a mid‑2026 launch. Its maritime analytics platform, MATSYA, is under development with a planned Q4 2025 release, while a drone‑borne SAR system is in flight‑testing, slated for commercial availability in Q4 2025.
