Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company announced the delivery of M.T. Betelgeuse and M.T. Bellatrix, the first two in a series of six New Building MR tankers from K Shipbuilding Korea.
The new additions will meet the growing demand for the transportation of clean petroleum products (CPP) and chemicals, according to a press release.
The order was secured from K Shipbuilding in November 2022, when the ADX-listed company ordered four IMO II/III tankers, followed by an additional two in February 2023.
This increase in Al Seer Marine's fleet strengthens its position as a key partner and investor in leading maritime companies in the UAE, including notable investments of over AED 1.45 billion in AD Ports Group and ADNOC Logistics & Services (ADNOC L&S).
Guy Neivens, CEO at Al Seer Marine, commented: "Al Seer Marine's investment in product and chemical tankers was driven by our strategic vision to diversify our fleet and capitalise on the growing demand and global trade in refined petroleum products and chemicals.”
“With these new additions, we aimed to keep our position as a key player in this growing segment, leveraging our expertise to meet the evolving needs of our clients while ensuring long-term growth and profitability," Neivens added.
The CEO noted: “This investment aligns with the company’s broader strategy to enhance its commercial shipping portfolio, ensuring resilience and adaptability in a dynamic market environment. Each of these six state-of-the-art MR tankers is equipped with an Exhaust Gas Cleaning System (EGCS).”
Nitin Mathur, Head of Commercial Shipping at Al Seer Marine, highlighted: “They are built ready for alternative fuels such as liquefied natural gas (LNG), ammonia, and methanol, making them perfectly suited for future usage in a rapidly evolving industry, ensuring compliance with the strictest environmental regulations for decades to come,"
As of the first half (H1) of 2024, the total value of Al Seer Marine's assets reached AED 7.50 billion, with total revenue growth climbing to AED 580 million.
