Gulf Navigation Holding, a group which owns and operates chemical tankers, is expanding the company’s fleet through a strategic long-term partnership with Wuchang Group, China’s heavy industry giant.

The decision, made at Gulf Navigation Holding’s latest board meeting, aims to meet the increasing demand for transferring chemicals from the UAE and other GCC countries to global markets, said a statement.

“We started with Wuchang Group by signing an agreement to immediately begin building six chemicals tankers,” said Khamis Juma Buamim, board member, managing director and group CEO.

“At the same time, we discussed with them cooperation opportunities in various areas. One of the most important pillars of this agreement is to pave the way for Chinese investors and attract them to work in the local market, which will reflect positively on the region as a whole,” added Buamim.

He emphasised that the partnership with Wuchang Heavy Industry Group, which is one of the largest companies worldwide in its field, is a significant step that will enable the company to strengthen itscapabilities by expanding fleet with modern and advanced tankers.

“This will enhance our competitiveness in the transfer of chemicals, a market that is steadily expanding and is witnessing increasing demand,” he said.

Zhigang Yang, chairman of Wuchang Ship Heavy Industry Group, said: “We are fully confident of achieving exceptional results through this exclusive partnership with Gulf Navigation Holding.”

The agreement involves several points including working to develop the transfer of chemicals from the GCC to the world, encouraging investment in the field of chemical industry and distribution in the Gulf region, and developing investment in the heavy marine industry infrastructure to achieve integrated support for this critical sector and the businesses associated with it. This in turn, helps to meet market needs in the two countries, Yang said.

The signing ceremony occurred during the Maritime Standard Tanker Conference in Dubai and was attended by Shaikh Daij bin Salman bin Daij Al-Khalifa, chairman of Arab Shipbuilding and Repair Yard; Hani Al Hamli, secretary general, Dubai Economic Council; Eng. Rashed AlHebsi, CEO of Tasneef; Ali Shehab Ahmed, deputy chief executive of KOTC; and Aydin AlAftan, president of Turkish Shipbuilders’ Association GISBIR, in addition to key decision makers from both parties.   

This partnership is considered as another milestone in Gulf Navigation Holding’s strategy to acquire tankers and provide various services in maritime transport, management and operation of ships in line with the company’s strategy to cope with the new technology for eco-friendly chemical tankers while providing high quality services with a competitive pricing structure and efficient operations.

The new partnership opens new horizons to improve the company’s services to existing customers and attract potential customers, the company said. – TradeArabia News Service