Al Seer Marine Supplies & Equipment PJSC (ASM)

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News

9 July 10:49 AM Al Seer Marine expands portfolio via AED 760m facility from ADCB

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company obtained an AED 760 million ($207 million) facility from Abu Dhabi Commercial Bank (ADCB) for eight years to support its diversified fleet growth and strategic investments. The …

Banking and Finance

3 June 07:51 AM Al Seer Marine boosts LPG logistics via new JV co-financed by ADCB

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company has partnered with B International Shipping & Logistics, an affiliate of top energy trader BGN, to launch a joint venture ‘ASBI Shipping FZCO’. This new JV will own and operate …

Companies Investments

20 May 09:37 AM Al Seer Marine inks AED 47.6m production deal with Albwardy Damen

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company secured a production agreement valued at AED 47.60 million to deliver high-speed interceptor vessels to Albwardy Damen in Sharjah. Delivery will span 42 months, with the units …

Companies Investments

24 March 05:16 PM Al Seer Marine, Damen International’s JV awarded AED 1.3bn deal with Tawazun Council

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company and Damen International secured a AED 1.30 billion contract with Tawazun Council via their joint venture (JV). The four-year project award covers manufacturing advanced offshore …

Companies Investments

4 March 06:23 PM IHC’s Al Seer Marine completes 1st stage of fleet expansion, unveils AED 257m investment with BOCOM Leasing

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment announced the delivery of motor tankers Tabit and Rigel, the final two vessels in its series of six new build Medium Range (MR) tankers ordered from K Shipbuilding Korea, according to a …

Companies Investments

29 January 06:05 PM Al Seer Marine’s revenues up to AED 1.2bn in 2024

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company incurred net losses worth AED 1.46 billion in 2024, an annual increase from AED 1.02 billion. Loss per share hiked to AED 1.46 last year from AED 1.02 in 2023, according to the …

Financial Results

23 December 2024 02:53 PM Al Seer Marine receives 2 modern MR tankers; investments cross AED 1.4bn

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company has taken delivery of M.T. Saiph and its sister ship from K Shipbuilding Korea, according to a press release. Each vessel is equipped with an exhaust gas cleaning system (EGCS) …

Companies Investments

16 October 2024 10:52 AM Al Seer Marine raises 1st financing from outside UAE

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company has secured $80 million in financing from BOCOM Financial Leasing Company Limited, a subsidiary of the Bank of Communications, one of China’s largest commercial banks. The …

Companies Investments

29 September 2024 01:44 PM Al Seer Marine expands fleet with 2 new MR Tankers

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company announced the delivery of M.T. Betelgeuse and M.T. Bellatrix, the first two in a series of six New Building MR tankers from K Shipbuilding Korea. The new additions will meet the …

Companies Investments

5 September 2024 09:25 AM Al Seer Marine unveils new brand identity

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company announced a new brand identity in line with its vision to anchor its position in the maritime industry, according to a press release. The company’s vision, which focuses on …

Companies Investments

28 July 2024 01:50 PM Al Seer Marine’s net losses deepen in H1-24

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company registered net losses valued at AED 1.68 billion in the first half (H1) of 2024, higher year-on-year (YoY) than AED 749.68 million. Revenue grew to AED 580.32 million in H1-24 …

Financial Results

10 July 2024 02:58 PM Al Seer Marine elects Chairman, Vice Chairman

Abu Dhabi – Mubasher: The board members of Al Seer Marine Supplies & Equipment have elected Readh Faraj Ahmed Alkindi as the Chairman of the board, upon a resolution in their 9 July 2024 meeting. Meanwhile, General Jasem Yousef Yaqoob Almansoori …

Management Decisions

20 June 2024 04:55 PM Al Seer Marine appoints Alvarado as Deputy CEO

Abu Dhabi – Mubasher: Maritime organisation Al Seer Marine Supplies and Equipment, a subsidiary of the listed International Holding Company (IHC), has appointed Gunther Alvarado as its Deputy CEO, according to a bourse filing. Alvarado will be …

Board of Directors

22 January 2024 00:42 PM Al Seer Marine unveils 2023 financials; revenues up 11%

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company incurred net losses valued at AED 1.02 billion in 2023, versus net profits worth AED 1 billion in 2022, according to the financial results. The revenues increased by 10.80% …

Financial Results

16 October 2023 10:05 AM Al Seer Marine increases fleet size via AED 495m deal

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company has taken over the very large gas carrier (VLGC) North Gas, according to a press release. The second VLGC delivery comes as a part of the AED 495 million deal signed by ABGC DMCC, …

Companies Investments

25 July 2023 02:11 PM Al Seer Marine turns to losses in H1-23 despite strong operational performance

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company turned to net losses amounting to AED 749.68 million in the first half (H1) of 2023, against net profits worth AED 882.97 million in H1-22. Gross profits enlarged by 92.50% …

Financial Results

17 May 2023 00:48 PM Al Seer Marine injects AED 257m investment into ADNOC L&S

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company secured a cornerstone investment with a share value of AED 257 million, equivalent to $70 million, in ADNOC Logistics and Services (ADNOC L&S). This step aligns with the …

Companies Investments

23 February 2023 01:55 PM Al Seer Marine unveils 13th acquisition in year for AED 331m

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company has purchased its latest gas vessel for AED 331 million, marking its 13th acquisition in 12 months. Having secured a total of five gas carriers, the ADX-listed firm plans to …

Companies Investments

29 January 2023 00:00 PM Al Seer Marine records AED 1bn net profit in 2022; revenues jump 79%

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company generated net profits worth AED 1 billion during 2022, an annual decline from AED 2.51 billion. The earnings per share (EPS) plunged to AED 1.01 last year from AED 4.90 in 2021, …

Financial Results

24 January 2023 11:57 AM Al Seer Marine acquires MT Meissa tanker for AED 132m

Abu Dhabi – Mubasher: Al Seer Marine, a subsidiary of the International Holding Company (IHC), has acquired the MT Meissa, formally known as MT Kokako, at a value of AED 132 million. MT Meissa, an IMO II/III product tanker, has been fixed on five …

International Agreements

16 January 2023 05:57 PM Al Seer Marine unveils world’s largest maritime 3D printer

Abu Dhabi - Mubasher: Al Seer Marine, a subsidiary of the International Holding Company (IHC), has announced MEGA II to be the biggest maritime 3D printer in the world, according to a press release. The giant 3D printer will offer several …

Global Economy

16 November 2022 02:36 PM Al Seer Marine invests AED 643m in MR tanks

Abu Dhabi - Mubasher: Al Seer Marine, a subsidiary of the International Holding Company (IHC), announced a new four IMO II/III product tankers order at a total value of AED 643 million, according to a press release. K Shipbuilding, a leading South …

Companies Investments

27 October 2022 09:43 AM Al Seer Marine acquires AED 396m VLCC Acrux

Abu Dhabi - Mubasher: Al Seer Marine, a subsidiary of the International Holding Company (IHC), announced its third mega VLCC acquisition valued at AED 396 million, bringing its total VLCC fleet value to AED 900 million in four months. VLCC Acrux, …

Companies Investments

17 October 2022 09:30 PM Al Seer Marine eyes AED 36.7bn deals in decade; new JV unveiled

Abu Dhabi – Mubasher: Al Seer Marine, a subsidiary of International Holding Company (IHC), is targeting future agreements worth more than AED 36.70 billion ($10 billion) over the coming 10 years, according to a press release. Meanwhile, IHC’s unit …

Companies Investments

9 September 2022 00:51 AM Al Seer Marine expands freight services via new partnership

Abu Dhabi – Mubasher: Al Seer Marine, a subsidiary of International Holding Company (IHC), has entered into a collaboration agreement with Singapore-based Netbulk Pte, a one-stop maritime solution firm, to scale up its freight services globally.  …

Companies Investments