Dubai-based shipping company, Gulf Navigation, achieved a 39% increase in net profits, to US$ 2.4 million in the first quarter of 2017, compared with the first three months of 2016. This reflects a significant improvement in the performance of the company, and follows the successful settlement of several legal cases affecting its business.
Khamis Juma Buamim, managing director and group chief executive, says, “We are moving with confidence towards achieving our strategic plans, enhancing our global business reputation, improving our capabilities and operational efficiency, as well as our ability to be more competitive without compromising on quality.”
In a further development, Gulf Navigation and the Jordan Academy for Maritime Studies, based in Amman, have signed a memorandum of understanding to cooperate in providing maritime education. The aim is to enhance the capabilities and competency of Gulf Navigation seafarers and meet the growing need for qualified crew members onboard its ships. The agreement was signed by Khamis Juma Buamim and Professor Mustafa Masad, president of the Academy, at a meeting in Dubai.