Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of its eleventh tanker and the fifth of 13 tankers on order with Korea's Hyundai Mipo Dockyard (HMD).
With the delivery of the US$ 55 million Gulf Mist, GEM has solidified its position in the global top ten chemical tanker operators list.
“The IMO II N2 type, 37,000 dwt multi-purpose (M-Class) Gulf Mist is the third M-Class carrier to be delivered in less than four months,” said Ahmed Al Falahi, Chief Executive Officer, GEM. “Like all its sister ships, Gulf Mist will go into a long-term charter with an oil company, generating revenue from the onset.
“The fleet’s 11th ship delivery milestone also coincides with our third anniversary and is the final ship delivered this year.”
Though spot tanker rates are witnessing highs and lows with crude prices having reached an all time high this month, Gulf Mist’s delivery signals a new era in GEM’s fleet as the market still has to reach sustainable levels.
Al Falahi continued: “In the space of three years GEM has secured an enviable position as a key player in the tanker industry. It is a huge achievement and a success built on foresight and planning. Gulf Mist’s delivery is a confirmation of GEM’s commitment to the market and our resolve to continue to expand and become the leading player in the sector.
“While safety is paramount to GEM, Gulf Mist comes equipped with all IMO stipulated requirements that is in line with the oil majors’ specifications.”
GEM is certified by Lloyd's Register Quality Assurance to the ISO-2000 Quality Management System and ISO 14001-2004 Environment Management System for the operational and technical management of its fleet.
