Al Seer Marine, a leader in the maritime industry and subsidiary of International Holding Company (IHC), has taken a significant step in its expansion process. The company has taken delivery of the Tabit and Rigel tankers , two new MR (medium range) tankers that bring the company’s fleet to 16 operational vessels.
These vessels were supplied by K Shipbuilding Korea, as part of an order that includes six new MR tankers, all built to strict environmental standards and with the ability to adapt to future alternative fuels , such as liquefied natural gas (LNG), ammonia and methanol.
Oil tankers with advanced technology
These new tankers are equipped with Exhaust Gas Cleaning Systems (EGCS), reinforcing Al Seer Marine’s commitment to environmental sustainability and clean transportation of oil and chemicals.
With a deadweight tonnage (DWT) of close to 50,000 tons, Tabit and Rigel are classified as IMO II/III oil and chemical tankers, allowing them to transport up to six different categories of cargo in a completely segregated manner, thus optimizing operations on a global level.
Strategic alliance with BOCOM Leasing
The delivery of these vessels was made possible through a new financial partnership with BOCOM Financial Leasing Co., Ltd., which provided an investment of AED 257.25 million (USD 70 million). This is the third financing agreement between Al Seer Marine and BOCOM Leasing, bringing the total investment to AED 845.2 million (USD 230 million).
Our strong financial performance in 2024, with over AED 1.28 billion (USD 348.9 million) in revenue and AED 107 million (USD 29.2 million) in operating profit, has made Al Seer Marine a trusted partner for forward-thinking investors locally and globally.
Said Guy Neivens, CEO of Al Seer Marine.
The future of Al Seer Marine’s fleet
In addition to MR tankers, the company’s fleet includes liquefied petroleum gas (LPG) tankers, VLCCs (very large tankers) and bulk carriers, ensuring efficient and safe transportation of various cargoes.
Al Seer Marine has expansion plans underway for the coming years, with the construction of three new Very Large Gas Carriers (VLGCs) planned by 2026. These vessels will be designed to meet the growing global demand for gas and petrochemical product transportation.
With a constantly growing fleet and a strong focus on sustainability, Al Seer Marine is well positioned to meet the challenges of the future and remain a leader in global energy transportation.
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Source and photo: Al Seer Marine
