Al Seer Marine has announced securing a latest gas vessel for AED331 million.
The International Holding Company (IHC) subsidiary said its latest acquisition is part of the company’s expansion initiatives in crude and gas tankers, and dry bulk shipping sectors.
The latest acquisition is reportedly a Very Large Gas carrier (VLGC) for ABGC DMCC and is designed to carry LPG and NH3.
Another feature of the vessel is the greater capacity of the cargo tanks as compared to conventional carriers.
The new acquisition comes in the wake of a huge demand for gas vessels, as global energy demand is forecast to rise by 8-10 percent over the next five years mainly driven by increase in Asian and African demand.
Al Seer Marine, a global player across multiple marine sectors, is currently in the process of rapidly growing its fleet, as well as its presence in the gas market.
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