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GulfNav to acquire 12 tanker newbuilds through Mena Energy partnership

GulfNav to acquire 12 tanker newbuilds through Mena Energy partnership
Gulf Navigation (GulfNav) is set to acquire 12 newbuilding as part of a strategic alliance with Mena Energy as the shipowner continues its growth track.

GulfNav has entered into strategic alliances for ship acquisition, chartering and commercial management with Mena Energy. Under the agreements GulfNav will acquire or order 12 newbuild tankers of between 50,000 – 120,000 dwt which will then be time chartered to Mena Energy.

“We are truly proud of this strategic alliance and we are delighted to take another step forward in GulfNav’s strategic business expansion process and to have deepened GulfNav’s existing strong collaboration with Mena Energy which would add value and prove advantageous to both parties,” said Khamis Juma Buamim, md and group ceo of GulfNav.

Rashid Al Ghurair, ceo of Mena Energy said: “With this alliance we will be able to strengthen our existing fleet of tanker and support our growing oil trading activity.

GulfNav recently announced plans to develop a shipyard business in the UAE with China Shipbuilding Industry Corp.

GulfNav currently has a fleet of eight chemical tankers and four crew boats.

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