United Arab Emirates (UAE)-based Gulf Navigation Holding (GNH) has entered into a strategic deal appointing Deloitte to provide necessary advisory support for its upcoming acquisition of a new shipping fleet.
GNH noted that the proposed acquisition will help meet the company’s strategic goal of becoming a major leader in the maritime industry of UAE and its neighbouring region.
Once completed, the acquisition will also enable GNH to expand its shipping fleet, ship management services and other maritime services.
Gulf Navigation Holding board member, managing director and group CEO Khamis Juma Buamim said: “Gulf Navigation will become a competitive provider of a wide range of services to the maritime industry in the region.
“Our services will expand beyond chemical carriers by including other ship types, offshore services, shipping services as well as ship building and repair.”
Last month, GNH announced that it was planning to expand its fleet through a strategic long-term partnership with China’s Wuchang Ship Heavy Industry Group.
A contract was also signed to realise the partnership, which aims to meet the growing demand for transferring chemicals from the UAE and other Gulf Cooperation Council (GCC) countries to global markets.
The deal will enable GNH to boost its capabilities by expanding its fleet with modern and advanced tankers.
Image: Deal signing between Gulf Navigation Holding and Deloitte. Photo: courtesy of Gulf Navigation Holding PJSC.