Middle East Economic Survey

VOL. XLVIII

No 46

14-November-2005

UAE

GEM Receives Last Of Four Tankers On Order

Dubai-based Gulf Energy Maritime (GEM) on 7 November took delivery of the last of four oil tankers on order from South Koreas Hyundai Heavy Industries (HHI). The new panamax double-hulled tanker, Gulf Coast, was completed approximately three months ahead of schedule and will go into service with Glencore (Charters) as part of a three-year deal. On 26 September, GEM took delivery of its...