Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has placed an order for six chemical tankers at China’s Wuchang Group as part of the company’s strategic long-term partnership with the shipbuilder.
GulfNav said that the move aims to meet the increasing demand for transferring chemicals from the UAE and other Gulf countries to global markets.
The cooperation “is a significant step that will enable us to strengthen the company’s capabilities by expanding our fleet with modern and advanced tankers. This will enhance our competitiveness in the transfer of chemicals; a market that is steadily expanding and is witnessing increasing demand,” Khamis Juma Buamim, Board Member, MD and Group CEO, said.
The agreement includes working to develop the transfer of chemicals from the Gulf countries, encouraging investment in the field of chemical industry and distribution in the Gulf region, and developing investment in the heavy marine industry infrastructure, according to GulfNav.
Earlier this week the company revealed its plans to enter into shipbuilding contracts with China Shipbuilding & Offshore International and Wuchang Shipbuilding Industry Group through its subsidiary GNH Maritime Ship Management & Operations LLC.
The move comes on the back of GulfNav’s plans to add new tonnage to its fleet of product and chemical tankers and reinforce its shipping services business.