Middle East Economic Survey
GEM Takes Delivery Of Tanker, Financed Via First Gulf Bank Loan
Gulf Energy Maritime (GEM), an independent regional shipping company, has taken delivery of Gulf Muttrah, a 47,000 dwt oil and chemical product tanker built by Hyundai Mipo Dockyard Company (HMD). The financing for the tanker was solely undertaken by the UAEs First Gulf Bank (FGB), as part of a $90mn term facility to finance the construction and purchase of two vessels. Further...