PHOTO
IHC’s Abu Dhabi-listed shipper Al Seer Marine has received two new chemical and oil tankers in the second part of a three-tranche agreement with Reliance Industries DMCC.
The two ships from K Shipbuilding Korea are the second pair in a total of six MR tankers, financed by BOCOM Leasing, a subsidiary of China’s Bank of Communications at $40 million per vessel, taking BOCOM’s total Al Seer commitment to $160 million.
Al Seer CEO Guy Neivens said the company was investing in product and chemical tankers as one of the most promising sectors in the maritime industry, meeting growing demand for refined petroleum products and chemicals.
Completion of the remaining two of the six ships is expected in January 2025.
The firm has made strategic investments of more than AED 1.45 billion ($395 million) in Abu Dhabi Ports and ADNOC Logistics and Services.
(Writing by Imogen Lillywhite; editing by Mily Chakrabarty)
