Gulf Navigation Holding (GulfNav), a leading shipping and maritime service company, said it aims to boost fleet with more specialised and modern ships in line with its expansion strategy.

GulfNav is the only shipping and maritime company listed in the Dubai Financial Market.

It owns and operates modern ships for crude oil and petrochemicals to a large number of clients globally, with its 11 specialised subsidiaries and 15 owned tankers including new buildings and charters.

Outlining its future strategy, GulfNav CEO Per Wistoft said, 'GulfNav is a cash rich company, the thing that enables it to have a very strong position in the market and also allows it to keep its eyes opened in order to capture valuable opportunities.'

'We constantly challenge ourselves to overcome any difficulty we face, and simply work on delivering what we have promised our clients no matter what circumstances we face,' he said.

'One of our key responsibilities is to continuously provide our customers with modern state-of-the-art products and services by using the best types of carriers that are suitable for the different types of oil and petrochemicals we lift,' he remarked.

Wistoft said the company was in the process of studying a potential new deal of purchasing more ships.

Wistoft pointed out that GulfNav had not been affected much due to the crisis as the company was partly focusing on long-term deals with International companies.-TradeArabia News Service