Al Seer Marine, a subsidiary of International Holding Company, has made a significant announcement regarding the takeover of its first very large gas carrier (VLGC) named ‘Lucky Gas.’ This move marks a major milestone for the company as it expands its operations in the shipping industry. The 86,000 CBM Class DF LPGC was constructed by Hyundai Heavy Industries in South Korea and is now engaged in a 10-year charter with BGN International DMCC.
The acquisition of ‘Lucky Gas’ is part of a substantial Dh495 million transaction that was inked in 2021 by ABGC DMCC, a joint venture between Al Seer Marine and BGN International. Under this agreement, the companies are set to acquire a second VLGC, named ‘North Gas,’ which is scheduled for delivery in September of this year. This strategic acquisition emphasizes Al Seer Marine’s commitment to expanding its VLGC fleet and strengthening its position in the gas transportation sector.
Al Seer Marine’s decision to enter the VLGC market demonstrates its forward-thinking approach and willingness to invest in the future. The global demand for liquefied petroleum gas (LPG) transportation has been on the rise, and the company’s investment in ‘Lucky Gas’ and ‘North Gas’ positions it well to capitalize on this growing market. By expanding its fleet, Al Seer Marine aims to enhance its ability to serve its clients and meet the increasing demands of the industry.
The partnership between Al Seer Marine and BGN International DMCC has been instrumental in facilitating this expansion. BGN International DMCC, an established player in the LPG sector, brings extensive industry knowledge and expertise to the table. The 10-year charter agreement with BGN International DMCC ensures a stable revenue stream for Al Seer Marine and provides a strong foundation for the company’s growth and success in the VLGC market.
The acquisition of ‘Lucky Gas’ and the upcoming delivery of ‘North Gas’ will have far-reaching implications for the gas transportation industry. The addition of these VLGC vessels to Al Seer Marine’s fleet will contribute to the overall capacity of transporting LPG globally. As the demand for LPG continues to rise, the availability of reliable and efficient transportation services becomes crucial. Al Seer Marine aims to fill this gap and contribute to the smooth and efficient supply chain of LPG worldwide.
Al Seer Marine’s expansion into the VLGC market aligns with its commitment to sustainability and environmentally friendly practices. The company has demonstrated a proactive approach in adopting cleaner and greener technologies. The newly acquired VLGC vessels are equipped with advanced systems that ensure optimal fuel consumption and minimize emissions. Al Seer Marine aims to set new benchmarks in the industry by operating its fleet in an environmentally responsible manner.
With the takeover of ‘Lucky Gas’ and the impending delivery of ‘North Gas,’ Al Seer Marine is well-positioned for future growth and success. The company’s strategic investments and partnerships enable it to tap into the increasing demand for LPG transportation. Al Seer Marine’s focus on sustainability and operational efficiency sets it apart in the industry and positions it as a preferred choice for clients seeking reliable and responsible shipping services.
Al Seer Marine’s acquisition of ‘Lucky Gas’ represents a significant step forward in its expansion into the VLGC market. The company’s commitment to sustainability, strategic partnerships, and forward-thinking approach positions it well for future success. As Al Seer Marine continues to grow its fleet and serve its clients, it is set to play a vital role in meeting the global demand for LPG transportation and contributing to the overall growth and development of the industry.
