Abu Dhabi-based Al Seer Marine, a subsidiary of International Holding Company (IHC), has taken over the delivery of North Gas, a very large gas carrier (VLGC), increasing the size of its fleet to 20, all acquired in a phase of rapid expansion in the last three years.
This is the second VLGC delivery under the AED495 million ($134.8 million) deal signed by ABGC DMCC, a joint venture between Al Seer Marine and BGN International.
North Gas, with a cargo capacity of 84,326 cubic meters, was built by Hyundai Heavy Industries (HHI) and was handed over to ABGC DMCC in Ulsan earlier this month. It has now commenced a decade-long charter with BGN International.
This strategic expansion solidifies Al Seer Marine’s position as a formidable player in the maritime industry and Guy Neivens, CEO of Al Seer Marine, commented: “Liquid petroleum gas is assuming a growing significance in the global energy landscape. Our announced fleet expansion plan is on track as we welcome our second newbuild VLGC.”
North Gas represents one of five VLGCs to be delivered within the next three years to Al Seer. The company will also assume control of six new-build medium-range (MR) chemical tankers in the next 18 months.
Follow us on
