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GEM acquires new vessel

Dubai, March 5, 2009

Leading tanker operator Gulf Energy Maritime (GEM) has acquired its 12th vessel, thus marking a 63 per cent completion of its newbuilding acquisitions.

GEM has taken delivery of the first out of six new vessels scheduled for delivery this year from Korea's Hyundai Mipo Dockyard (HMD).

Named Gulf Muttrah, the IMO II-N2 type 46,000 dead weight tonnage (dwt) vessel, the company is achieving all the targets set for 2009, Ahmed Essa Hareb Al Falahi, CEO of GEM.

“As the first of six new GEM vessels scheduled for delivery from HMD this year, we continue to be on the course of providing the market with safe, reliable and environment-conscious tonnage,” he added.

“As in the previous deliveries, Gulf Muttrah’s design and build are consistent with the highest standards of safety and quality - something we have consistently adhered to for all our ships – all for the benefit of our customers, the environment and our staff.”

GEM also has on order two Aframax vessels from Samsung Heavy Industries with a capacity of 114,700 dwt each are of Large Range 2 (LR2) specification – capable of carrying both clean petroleum products and dirty products such as crude and fuel oil, and scheduled for delivery in 2011.

After the delivery of Gulf Baynunah and Gulf Jumeirah in 2008, Gulf Muttrah is the third new IMO II N2 type 47,000 dwt vessel for GEM. With five more new vessels to be delivered within the year, such vessels include one more 47,000 dwt type two ship, and four larger vessels of 75,000 dwt. – TradeArabia News Service




Tags: Dubai | Gulf Energy Maritime | Hyundai | tankers |

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