UAE-based Al Seer Marine has acquired two gas carrier vessels, valued at a combined AED 246 million, to meet rapidly growing demand for the transportation of Liquified Petroleum Gas (LPG). The vessels, Alcor and Alkaid, each have a capacity of 20,700 m3.
Guy Neivens, Chief Executive Officer of Al Seer Marine, said, “Due to its strong operating and financial position, we are able to capitalise on the increasingly favourable fundamentals in global shipping, particularly in the LPG segment. The company is developing a robust pipeline of clients and is moving rapidly to meet fast-growing demand for charters. These transactions build significant scale in our operations and provide attractive returns to the company and its shareholders.”
The two ships were acquired through close cooperation with a number of international banks, including ING and Bank of America.