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Global marine services leader Al Seer Marine aims to grow its fleet to become the largest in the MEA market
As part of its global expansion plans, Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company (IHC), is entering into a partnership agreement with Singapore-based Netbulk Pte Ltd.
The partnership is expected to provide freight services for 5 million tonnes of dry bulk cargo within a year, with an expected turnover of $100 million, WAM said on Wednesday.
“The agreement between the two companies will focus on the Middle East and Asia Pacific region and help customers mitigate supply chain uncertainty by partnering on 10 commercially controlled vessels, with further plans to increase the fleet through future collaborations or acquisitions, ‘ said WAM.
Last month, Al Seer Marine posted a profit worth AED883 million, driven by investments, product offerings and diversified management.
Global shipping services leader Al Seer Marine has been rapidly expanding in commercial shipping, aiming to increase its fleet to become the largest in the MEA market.
“By partnering with Netbulk to expand our network in Singapore, Al Seer Marine continues to execute our long-term cargo strategy through key regional initiatives, while ensuring control of merchant vessels as we overcome supply chain challenges,” said Al Seer Marine’s Chief Executive Officer Officer Guy Nevins said.
Neivens added: “Combining our team’s expertise with Netbulk’s proven freight management, we will deliver industry-leading logistics solutions and ensure our customers have access to a wide range of responsive services.
Al Seer Marine is currently exploring expansion plans in product tanker, gas tanker and dry bulk shipping, with a short-term plan to acquire 10 to 15 vessels in 2022.
Source: Arab Business
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