Gulf Navigation Holding Pjsc News

Families of 39 Filipino crewmen who were aboard a cattle ship that sank during a typhoon are pleading for a search to continue and to expand into uninhabited islands and nearby waters, two weeks after their vessel capsized off Japan.In tears during an online news conference, family members urged authorities to resume a massive search effort, after Japan's coastguard suspended its rescue last week.Of the ship's 43 crew, three were rescued—all Filipinos—but one later died after being found unconscious. Thirty-six Filipinos, two New Zealanders and two Australians are missing."We are getting frustrated not knowing where they are," said Liberty Seneres, wife of chief engineer, Aristotle Sabillena."We are worried.

Goldilocks Investment Company, an Abu Dhabi-based fund managed by ADCM Altus Investment Management, said on Monday it had bought an 18.32 percent stake in Gulf Navigation Holding PJSC.The fund said in a statement on Monday that this includes a 4.68 percent stake in the UAE company held through a share finance facility. (Reuters reporting by Tom Arnold Editing by Alexander Smith)

Atlantic Navigation Holdings said that discussions pertaining to sale of a substantial equity stake to Gulf Navigation Holding  have terminated because the parties involved could not reach an agreement on the definitive terms. "The deal calling for the sale of a substantial equity stake in Atlantic Navigation to Gulf Navigation Holding PJSC is no longer on the table," said a press release from the company. In a stocke exchange announcement, Atlantic Navigation aid before Monday's trading hours it has entered into an US$8.5 million loan agreement, while a deal involving the sale of a substantial equity interest in the company is off the table.

Dubai based tanker owner Gulf Navigation Holding PJSC reported its 2017 FY net profit fell to 40.7 ‍million dirhams versus 136.6 ‍million dirhams a year ago.   The company's FY gross revenues rose to 137.9 million dirhams versus ​129.5 million dirmahs for the year prior.

Dubai-based Gulf Navigation Holding PJSC (GulfNav) is in discussions to acquire a majority stake in Singapore-based Atlantic Navigation Holdings, a provider of offshore marine logistic services. Atlantic is an integrated offshore supply operation engaged in the provisioning of marine logistic services, ship repair, fabrication and other marine services. It operates out of the UAE serving primarily customers in the Middle East and India. Atlantic is an offshore marine logistic services group listed on the Singapore Stock with total assets of $177m. Gulf Navigation is in discussion with major oil companies in the Gulf Region to provide key project solution and offshore services.

Gulf Navigation Holding PJSC has announced refinancing 'Gulf Mishref' and 'Gulf Mirdif' petrochemical carriers in less than a month after increasing its capital to AED 1 billion through an Initial Public Offering (IPO). The move underlines the increasing demand for the company’s shipping services, which requires increasing its fleet capacity to meet the demand for its services in the region. Refinancing the two carriers, Gulf Mishref and Gulf Mirdif, is an important addition to the company's petrochemical transportation capabilities. This has reflected positively on the value of the company's assets with an increase of 13% equal to AED 123 million. Each of the vessels have the capacity to carry over 26,000 tonnes of chemical cargo and each of them has 29 separate tanks.

Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has announced in a press conference at Rose Rayhaan by Rotana April 19 its expansion plans to increase its assets under management and service-based revenue. The shipping company also revealed the appointment of Khamis Juma Buamim as the new Board Member, Managing Director and Group CEO by the Board of Directors during the event. Chairman Abdulla Saeed Abdulla Brook Al Hemeiri, and Khamis Juma Buamim along with other high-level executives…

Gulf Navigation Holding PJSC (GulfNav), the Dubai-based shipping company, has announced in a press conference at Rose Rayhaan by Rotana today (Tuesday, April 19, 2016), its key expansion plans to increase its assets under management and service-based revenue. The shipping company also revealed the appointment of Mr. Khamis Juma Buamim as the new Board Member, Managing Director and Group CEO by the Board of Directors during the event. The move forms part of the company’s intensified strategy to become one of the main industry leaders in the regional maritime and shipping industries. Chairman Abdulla Saeed Abdulla Brook Al Hemeiri, and Mr.

Gulf Navigation Holding PJSC (DFM: GULFNAV), the Dubai-based shipping company, has confirmed the appointment of Parag Jain as the company’s new Chief Executive Officer (CEO). The confirmation is a welcome move as Jain has been serving in the capacity of acting CEO since May of this year. With over 20 years of experience in the marine and maritime industry, Parag’s dynamic leadership and proficiency in the business is expected to help steer the company’s journey towards more growth and development.

Dubai-based Gulf Navigation Holding (Gulfnav), a leading maritime and shipping company, has reported a substantial 123 per cent profit growth at the end of the third quarter of 2015 compared to the same period the previous year. The company released its latest financial statement amidst its strong and consistent financial turnaround and continuous intensified efforts to address creditor concerns, said a statement from the company. According to Gulfnav’s financial report, its net income reached Dh15.676 million ($4.283 million) for the nine-month period ending September 30, 2015. This was significantly higher compared to the 2014 profit of Dh7.030 million ($1.92 million) posted during same timeframe.

Nordic American Tankers (NAT) published its financial results from 4Q 2013, noting an expected increase in tanker rates that the company expects to play a role in its recovery. In early December 2013 the Suezmax tanker rates increased significantly compared with the average for 2013. A few weeks into 2014 the rates have weakened again. We expect improved results in 1Q 2014. The timecharter results of NAT were slightly lower in 4Q 2013 than in 3Q 2013. Short term rates in the tanker market are very volatile.

Nordic American Tankers (NAT) announced that an arbitration panel in London has produced an award in favor of NAT. Gulf Navigation Holding PJSC (GulfNav) was the other party in the arbitration. The case relates to the six-year bareboat charter with GulfNav of the Suezmax vessel Gulf Scandic (now named Nordic Harrier) covering the period 2004-2010. When the vessel was redelivered to NAT by the charterer in October 2010, it was in very poor technical condition. The vessel had not been technically operated according to sound maintenance practices by the charterer. NAT had the vessel repaired in the autumn of 2010/spring 2011, and made a claim against GulfNav for costs incurred.

According to an August 29 report from Bloomberg, Gulf Navigation Holding PJSC, Dubai’s only publicly traded oil-tanker owner, is seeking to buy new crude carriers as an improving global economy boosts shipping volumes. The company is on target to ship 6 million tons of goods this year, compared with 4.5 million tons in 2009, a company representative said. (Source: Bloomberg)

Gulf Navigation Holding PJSC (DFM: GULFNAV) has announced the appointment of Khalid Karim to the position of Chief Financial Officer  Khalid brings to Gulf Navigation over 30 years of experience in major oil & gas and shipping companies in senior finance roles. He joins the company as it enters a new phase in its substantial expansionary plan where he will assist the company in its continuing growth strategy. A chartered accountant and Fellow of the Institute of Chartered Accountants in England & Wales- Khalid held the post of Group CFO at Emirates National Oil Company (ENOC) where he for over the last 10 years was directly involved in ENOC's shipping companies.

Gulf Navigation Holding PJSC (DFM: GULFNAV), has recently announced the appointment of Mr. Per Wistoft Kristiansen as Chief Executive Officer. Per will lead the company's expansionary mission of growth. Kristiansen has 29 years of experience across Europe, Asia and the United States. He worked as managing director at Transpetrol Belgium and previously headed the port of Esbjerg in Denmark, and served maritime and shipping companies like D/S Norden A/S, Toro Energy Sam, and A.P Moller Group. Kristiansen holds an MBA from Scandinavian International Institute Copenhagen and speaks seven languages. Per will officially assume his duties on February 1st 2009. (www.gulfnav.com)

Gulf Navigation Holding PJSC has set its sights on a capacity expansion of close to 30 percent in 2007. After the acquisition of six double hulled product tankers at the end of last year, and the successful conclusion of their financing arrangement for the six tankers and two chemical tankers to be built in Shina shipyard totaling $186m with Nordea bank, the company plans to acquire and build additional oil and chemical tankers this year. Gulf Navigation Holding has completed all formalities for the listing of its shares on the DFM. The company is in the final stages of securing the regulatory approvals, and plans to start trading soon. Subscriptions for the company’s IPO closed in August 2006.