Safeen Feeders has inked an AED 375m ($102m) deal to purchase and lease three feeder container ships to Bangladeshi conglomerate Saif Powertec.

The United Arab Emirates-based company will charter to the Bangladeshi company for up to 15 years at ‘pre-agreed’ rates as part of a plan to support trade in the region.

The first of three vessels of 1,700 teu up to 2,100 teu will begin its charter in November on global routes connecting Bangladesh.