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Gulf Navigation IPO to fuel new orders

Dubai: An IPO by independent tanker company Gulf Navigation Holding opens today In Dubai, hoped to raise Dh910m ($245m). The money raised will go towards planned new orders worth around $1bn for seven VLCCS and six chemical carriers of around 50-60,000dwt to be placed before end 2007, according to local press reports.  [24/07/06]

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