emirates7 - Al Seer Marine (ASM), a leading player in various maritime sectors and a subsidiary of International Holding Company (IHC), has recently received two new vessels, M.T. Betelgeuse and M.T. Bellatrix. These are the first of six New Building MR tankers ordered from K Shipbuilding in Korea, aimed at meeting the increasing demand for the transport of clean petroleum products (CPP) and chemicals.
The vessels were part of a deal made in November 2022, when Al Seer Marine ordered four IMO II/III tankers, with an additional two ordered in February 2023. This expansion bolsters Al Seer Marine's fleet and reinforces its role as a key partner in the UAE’s maritime sector, which includes significant investments of over AED 1.45 billion in Abu Dhabi Ports and ADNOC Logistics and Services. These initiatives support the UAE’s broader "Projects of the 50" strategy, positioning the maritime industry as a key pillar in the nation's vision.
Guy Neivens, CEO of Al Seer Marine, explained that the company's investment in product and chemical tankers aligns with their strategy to diversify their fleet and capitalize on the growing demand for refined petroleum products and chemicals. He highlighted the increasing industrial activity, environmental regulations, and complex supply chains driving the market. With these new tankers, Al Seer Marine aims to maintain its leadership in this segment while pursuing sustainable growth and profitability.
Nitin Mathur, Head of Commercial Shipping at Al Seer Marine, emphasized that this investment enhances the company’s commercial shipping portfolio, ensuring resilience in a dynamic market. He noted that the six MR tankers, including the M.T. Betelgeuse and M.T. Bellatrix, are equipped with Exhaust Gas Cleaning Systems (EGCS) and are prepared for alternative fuels like Liquefied Natural Gas (LNG), ammonia, and methanol. This positions them well for future regulatory compliance and evolving industry standards.
The M.T. Betelgeuse and M.T. Bellatrix, each with a deadweight of 49,757 MT, are IMO II/III tankers capable of carrying six fully segregated cargo types. These vessels are chartered by Reliance Industries (Middle East) DMCC and will operate globally, showcasing Al Seer Marine's advanced fleet capabilities.
As of mid-2024, Al Seer Marine's total assets reached AED 7.5 billion, with revenue rising to AED 580 million. The expansion of its modern fleet is expected to further boost these figures, contributing to the company’s sustainable growth, operational efficiency, and increasing value for investors and shareholders.
This strategic growth also supports the UAE’s leadership in alternative fuel supply chains. Additionally, Al Seer Marine's innovations, such as its Unmanned Surface Vehicle (USV) services and use of 3D printing technology, underscore its commitment to transforming the maritime industry and achieving long-term success through sustainability.
The vessels were part of a deal made in November 2022, when Al Seer Marine ordered four IMO II/III tankers, with an additional two ordered in February 2023. This expansion bolsters Al Seer Marine's fleet and reinforces its role as a key partner in the UAE’s maritime sector, which includes significant investments of over AED 1.45 billion in Abu Dhabi Ports and ADNOC Logistics and Services. These initiatives support the UAE’s broader "Projects of the 50" strategy, positioning the maritime industry as a key pillar in the nation's vision.
Guy Neivens, CEO of Al Seer Marine, explained that the company's investment in product and chemical tankers aligns with their strategy to diversify their fleet and capitalize on the growing demand for refined petroleum products and chemicals. He highlighted the increasing industrial activity, environmental regulations, and complex supply chains driving the market. With these new tankers, Al Seer Marine aims to maintain its leadership in this segment while pursuing sustainable growth and profitability.
Nitin Mathur, Head of Commercial Shipping at Al Seer Marine, emphasized that this investment enhances the company’s commercial shipping portfolio, ensuring resilience in a dynamic market. He noted that the six MR tankers, including the M.T. Betelgeuse and M.T. Bellatrix, are equipped with Exhaust Gas Cleaning Systems (EGCS) and are prepared for alternative fuels like Liquefied Natural Gas (LNG), ammonia, and methanol. This positions them well for future regulatory compliance and evolving industry standards.
The M.T. Betelgeuse and M.T. Bellatrix, each with a deadweight of 49,757 MT, are IMO II/III tankers capable of carrying six fully segregated cargo types. These vessels are chartered by Reliance Industries (Middle East) DMCC and will operate globally, showcasing Al Seer Marine's advanced fleet capabilities.
As of mid-2024, Al Seer Marine's total assets reached AED 7.5 billion, with revenue rising to AED 580 million. The expansion of its modern fleet is expected to further boost these figures, contributing to the company’s sustainable growth, operational efficiency, and increasing value for investors and shareholders.
This strategic growth also supports the UAE’s leadership in alternative fuel supply chains. Additionally, Al Seer Marine's innovations, such as its Unmanned Surface Vehicle (USV) services and use of 3D printing technology, underscore its commitment to transforming the maritime industry and achieving long-term success through sustainability.