New partnership for Gulf Navigation Holding

Its services will be available to those in the oil and gas industry, offshore vessels, container liner vessels, bulk carriers, cruise ships, yachts and marine facilities.

HE Khamis Juma Buamim, board member, managing director and Group CEO of Gulf Navigation, said: “The Group is proud and pleased for this Strategic Partnership and we are confident that step will contribute significantly in the process of expanding our services and commercial business to different parts of the world and raise the level and quality of services provided to our customers and raise the value of the company and its position in the local and global markets.”

Through this partnership, Gulf Navigation Holding will aim to capitalise on its existing shipping agency and marine product services.

Gulf Navigation Holding hopes to be able to serve the vessels of its customers in the major trading ports worldwide in addition to the UAE’s Ports. Due to the agreement the Maritime Agency Fleet of the Gulf Navigation Holding will grow from four service boats to 10 crews, tugs and offshore support vessels with a value of $3m per vessel and the expected revenue from this partnership will be around $27m.

Aydin Alaftan, the resident of Polimar Denizcilik ve Ticaret Ltd, said: “The company is very pleased to announce arranging mutual business activities between UAE & Turkey in respect of all shipping Maritime business including but not limited of partnership in the Joint Ventures in the ship buildings, ship management, ship owning, chartering and ship repair.”