Middle East Economic Survey


No 28



GEM Receives Second Of Four Tankers On Order

Dubai-based Gulf Energy Maritime (GEM) on 5 July took delivery of the second of four oil tankers on order from South Koreas Hyundai Heavy Industries. The new panamax double-hulled tanker, Gulf Horizon, was completed three months ahead of schedule and will go into service with Glencore (Charters) as part of a three-year deal. GEM took delivery of its first tanker from Hyundai, Gulf Pearl, in...