Gulf Energy Maritime (GEM) - the Middle East's largest independent commercial product tanker operator - has successfully implemented its fleet expansion targets for 2009 as it achieved a new record and milestone in its relatively young history as a company by receiving a total of six new vessels in just one year.
Named Gulf Crystal, the fourth 75,000 dwt Panamax vessel and the sixth newest ship received by GEM this year from Hyundai Mipo Dockyard (HMD) - South Korea's biggest ship builder - becomes the 17th vessel in GEM's fast-growing fleet.
Earlier in the year, GEM had taken delivery of five new vessels - two 47,000 dwt tankers and three 75,000 dwt product oil tankers - all built and delivered by HMD in accordance with GEM's design and specifications in order to ensure implementation of its strict adherence to very high standards of safety, quality, reliability and environmental efficiency.
"Indeed, the delivery of Gulf Crystal by HMD is very historic and eventful for GEM," said H.E. Mohamed Al Mehairi, GEM Chairman. "Apart from it being the last vessel built and delivered by HMD to GEM this year, and the numbers it represents in terms of the new vessels we have received in just a span of one year, our fast-growing fleet clearly indicates the company's resilience in the face of what appears to be an overwhelming challenge in the ongoing global financial crisis."
"The delivery of Gulf Crystal undoubtedly shows our sound business standing that has gained the trust and confidence of our financial backers and ship-building partners to enable us to go full throttle into our fleet expansion programme. And as an effect, this trust and confidence has increased our capacity and capability to deliver to the market such high quality products and services, and has further elevated GEM's standing in the industry as amongst the top product tanker operators in the world."
Come 2011, GEM's fleet will increase even further not just in terms of quantity but also in size as the company is expected to receive two new Aframax vessels from Samsung Heavy Industries with a capacity of 114,700 dwt - both of which are Long Range 2 specification that are capable of carrying both clean petroleum products and dirty products such as crude and fuel oil.
In closing, Ahmed Hareb Al Falahi, CEO, GEM, thanked everybody who contributed in making GEM's fleet expansion programme for 2009 a reality and a success, including the financial institutions, HMD, as well as GEM's Board of Directors.
"Indeed, all these accomplishments could not have been achieved without your support, trust and confidence in our company, our business objectives, and how we implement those objectives and operate our business," Al Falahi said.
GEM's adherence to safety, quality and care for the environment has been acknowledged and recognized by the shipping fraternity through its second consecutive Safety and Quality Award from Seatrade Middle East and Indian Subcontinent Awards 2009. And in 2008 alone, GEM received three industry awards, including the Tanker Company of the Year award and the Clean Seas award from Lloyd's Middle East Shipping Awards, and the Safety and Quality Award from Seatrade Middle East and Indian Subcontinent Awards.
GEM is certified by Lloyd's Register Quality Assurance to the ISO 9001-2000 Quality Management System and ISO 14001-2004 Environment Management System for the operational and technical management of its fleet.
-Ends-
About Gulf Energy Maritime (GEM) PJSC:
Headquartered in Dubai, GEM is the Middle East's largest independent, commercial product tanker operator and boasts the world's most modern Product and Chemical tanker fleet. Committed to delivering excellence in safety and quality, GEM's Tanker Management Self Assessment System required by the Oil Companies International Marine Forum, has been approved by ExxonMobil, BP, Shell and Chevtex - the first Middle East product tanker operator to be approved by four of the world's oil majors.
GEM is certified by Lloyd's Register Quality Assurance to the ISO 9001-2000 Quality Management System and ISO 14001-2004 Environment Management System for the operational and technical management of a fleet of petroleum and chemical tankers trading worldwide. These also incorporate the pollution prevention requirements of the International Marine Organization's ISM Code.
GEM is a joint venture partnership between Dubai's Emirates National Oil Company (ENOC), Abu Dhabi's International Petroleum Investment Company (IPIC), the Oman Oil Company (OOC) and Thales of France under the UAE Offsets program.
For further information:
Gladson Ronad,
MCS/Action,
PO Box 20970,
Dubai,
United Arab Emirates.
Tel: +9714 390 2960;
Fax: +9714 390 8161;
Mob: +971 50 4533479
email: gladson.r@actionprgroup.com
Or visit Gulf Energy Maritime online at: www.gemships.com
© Press Release 2009
