Al Seer Marine (ASM), Charter of vessels to meet fast-growing global demand
Al Seer Marine (ASM) , a global player across multiple marine sectors and a subsidiary of International Holding Company (IHC), recently acquired two vessels, valued at a combined AED 246mn (US$ 67mn), to meet rapidly growing demand for transportation of liquified petroleum gas (LPG).
ASM, which is pursuing an expansion strategy to become a major world leader in commercial shipping, has targeted the acquisition of up to 15 ships in 2022. Growing demand for charters in the product tanker and gas segments has been compounded by recent global geopolitical developments.
In its latest transaction, ASM has purchased LPG tankers, MT Alcor and MT Alkaid, each with a capacity of 20,700cbm.
The vessels are expected to provide an internal rate of return (IRR) of 25%.
“Due to its strong operating and financial position, ASM is able to capitalize 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,” asserted Guy Neivens, CEO, Al Seer Marine.
Founded in 2003 and listed on the ADX Growth Market (Abu Dhabi Securities Exchange), Al Seer Marine is already a leader in marine services in the region, and has been expanding rapidly in the commercial shipping segment.