AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
 
Marine Services(Shipping and Logistic)
Filter PR by
  
Al Seer Marine Commenced Construction of its First VLGC; Delivery Expected March 2023
 
Al Seer Marine Commenced Construction of its First VLGC;  Delivery Expected March 2023
- Al Seer Marine ordered two new VLGC’s from Hyundai Heavy Industries for delivery in H1 2023 to meet increasing market growth demand 
- The company is exploring expansion initiatives to acquire 10-15 ships in 2022 with further growth projections in response to changing market fundamentals and increasing ton-mile demand in product tanker and gas segments  
- JV with BGN International to facilitate expansion into commercial shipping in line with strong growth of ton-mile demand
 
Abu Dhabi, UAE; 11 April 2022:  Al Seer Marine PJSC (ASM), a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), performed the steel cutting ceremony for its first Very Large Gas Carrier (VLGC), named Lucky Gas.
 
Al Seer Marine formed a joint venture last year, named ABGC DMCC, with BGN International, one of the world’s leading energy, trading, storage and transportation companies, to build two new VLGC’s. It awarded the contract to Hyundai Heavy Industries in Korea. This follows a projected boost in the VLGC segment with growing liquified petroleum gas (LPG) trade relationships between multiple regions, including the Middle East and Asia, Western Africa and Europe, and the United States. 
 
This marks the first steel cutting for Lucky Gas, which is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022 and be completed and delivered by June 2023. Both ships are sized at 86,000 cubic meters capacity and the propulsion machinery of each ship will be LPG fueled, making them environmentally friendly with less emissions. 
 
Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “This is an exciting moment for Al Seer Marine and our partners, BGN International, as it demonstrates our commitment to global decarbonization initiatives in our pursuit to becoming a modern, world-leading commercial shipping company. The accelerating rise in demand for oil products and gas, in a tight energy market, has resulted in exploring fleet expansion initiatives to strategically access broader opportunities within commercial shipping.”
 
The company aims to increase its fleet up to 20 ships and is analyzing expansion initiatives in product tankers, gas tankers, and dry bulk shipping sectors, with short-term plans of acquiring 10 to 15 ships in 2022.
 
Earlier in the year, Al Seer Marine launched its additive manufacturing business unit, leveraging the latest additive manufacturing technologies for the company’s in-house manufacturing of unmanned vessels and vehicles. The business unit will also develop large-scale additive manufacturing (LSAM) products and parts that are in high-demand regionally and globally. 

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 485 times
PR Category : Shipping and Logistic
Posted on : Monday, April 11, 2022  12:03:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AbuDhabiPR.com.
Previous Story : Al Seer Marine Bulks Up its Worldwide Freight Services
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
An Icon in Solid Gold [10450-Views]
It's Your Story, Wear it your Way [8531-Views]
Perfect Matches, For You and Your Pets [6244-Views]
Meet the New Pandora Muses [6115-Views]
Twitter rolls-out testing of most requested update: The Edit Button [4501-Views]
Twitter Introduces Greater Control and Personalisation of the Platform with Twitter Circle [3595-Views]
Legally Blind Man See Hope Through the World's Largest LEGO® Eyeglasses [2815-Views]
Lenovo Group: First Quarter Results 2022/23 [2762-Views]
Titan Watches Unveils Robust Expansion Plan in the Capital [2720-Views]
July Passenger Demand Remains Strong [2102-Views]
UAE President appoints Sultan Yusuf Abdul Rahman Al Nuaimi [1849-Views]
Etihad Continues to Invest in the Us Market With Increased Flights & Expanded Partnership [1548-Views]
Your Signature Style with Pandora [1480-Views]
The UAE's Hamda Al Qubaisi Selected to Take the Wheel in Formula 3 Test [1243-Views]
Ministry of Economy reviews executive regulation of Federal Decree- Law concerning trademarks [1077-Views]
Wizz Air Announces Major Expansion in Saudi Arabia [982-Views]
Etihad Rail Signs Memorandums of Understanding at Innotrans 2022 with Leading International Railway ... [975-Views]
The UAE Banks Federation Holds its Third CEOs Advisory Council meeting in 2022, with New Members Joi... [840-Views]
Start-Up of Unit 3 of Barakah Nuclear Energy Plant Accelerates Achievement of UAE Net Zero 2050 [665-Views]
Team Abu Dhabi Star Tops Qualifying With Dramatic Late Surge [568-Views]
 
RSS Facebook Twitter LinkedDin AbuDhabiPR.com on Instagram
 
Top Sections
 
Top Stories