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, a joint venture (JV) between Al Seer Marine and BGN International.

The North Gas, which has a cargo capacity of 84,326 cubic metres (m3), represents one of five VLGCs to be delivered within the next three years.

Al Seer Marine currently owns and commercially manages a fleet of 20 ships, all acquired within the last 36 months.

Meanwhile, the UAE-based company will assume control of six new-build medium-range (MR) chemical tankers in the coming one and have years.

Guy Neivens, CEO of Al Seer Marine, said: “Our announced fleet expansion plan is on track as we welcome our second newbuild VLGC, and our foray into the maritime commercial shipping sector stands as a testament to the steadfast backing of our esteemed board members, shareholders.”

In the first half (H1) of 2023, the ADX-listed firm posted a 92.50% year-on-year (YoY) hike in gross profit to AED 73.77 million, compared to AED 38.33 million.

Revenues increased by 18.90% to AED 564.34 million in H1-23 from AED 474.81 million in H1-22.