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It has been confirmed that H.E. Khamis Juma Buamim, former chairman of Drydocks World Dubai, has been appointed to the board of the Dubai-based shipping company, Gulf Navigation. He will serve as managing director and group chief executive officer, bringing with him a wealth of experience in the shipping and offshore business segments, as the company’s board seeks to chart a new and sustainable future for Gulf Navigation, which has been through its fair share of financial troubles in recent years.
Buamim told TMS in an exclusive interview: “I am really looking forward to the challenge and I am very optimistic about the future of this company. I believe there are a number of areas where we can add value and really do something positive here.”
He accepts there have been a number of difficult issues for the company. However, Buamin, says, “I firmly believe that every problem has a solution, and by working together we can create opportunities that will propel the company forward.”
In particular he says the board plans to review all aspects of the business and look at expanding its activities, for example through involvement in the ship management business and also the operation of offshore supply vessels where, he says, the region has a clearly defined need. “There is rich potential in these areas and we aim to take steps to take full advantage,” he adds.
Currently Gulf Navigation, which is publicly listed on the Dubai Stock Exchange, has a fleet of 9 chemical tankers and four crew boats. It has recently been confirmed that Gulf Navigation has entered into an agreement with Stolt Nielsen to buy its 50% share of the joint venture Gulf Stolt Ship Management (GSSM). This company will in future function as a wholly owned subsidiary of the Gulf Navigation group.
