GNH Purchases Tankers

Monday, July 10, 2006
Gulf Navigation Holding (GNH), a shipping and marine services company, announced on Saturday a $136.1macquisition of six double-hulled tankers. GNH's acquisition of the six product - Gulf Ahmadi, Gulf Riyad, Gulf Sieb, Gulf Safwa, Gulf Jash and Gulf Shagra - boosts the size of its burgeoning fleet to 18 wholly owned vessels.

The new acquisitions, which offer flexible capacity and can carry clean oil, products and ore, are 48,000 metric tons deadweight each. The ships are capable of handling about 50,000 cubic meters of liquid capacity each. Source: TradeArabia.com

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