IPIC Takes Over Chairmanship of Gulf Energy Maritime
Abu Dhabi Government-owned investment group, International Petroleum Investment Company’s (IPIC) Khalifa Abdulla Al Romaithi, Head of Portfolio Management Division, has taken over chairmanship of Gulf Energy Maritime PJSC (GEM), from Saeed Abdulla Khoory, Chief Executive officer of Emirates National Oil Company (ENOC). Al Romaithi assumes GEM's top post in its Board of Directors, which rotates every three years between IPIC and ENOC. Khoory remains a board member of GEM and will at the same time focus on his increasing role at ENOC.
E-ships Orders two LPG Tankers
Emirates Ship Investment Company (E-ships) has ordered construction of two semi-refrigerated LPG Tankers from STX for $76 million, according to a report on www.khaleejtimes.com. The price for each vessel is about $38 million and the vessels will be delivered in Korea in May and July 2010. Eships is an Abu Dhabi based shipping company controlling 11 modern tankers and bulk carriers. E-ships is owned by Oman and Emirates Investment Holding Company, Mubadala Development Company and Abu Dhabi Investment Company (ADIC). Eships currently has four vessels on Time Charter to Total (CSSA). (Source: www.khaleejtimes.com)
Abu Dhabi Forms Joint Fast Containership Line
Abu Dhabi Investment Company has established Abu Dhabi Container Lines Limited (ADCL) with Norasia Shipping Limited, Switzerland. The new venture will acquire and operate a fleet of 10 fast containership vessels servicing Asian ports and the Pacific Northwest of the U.S. and Canada. The 10 technologically driven vessels, seven of which have already been delivered, move at speeds of 25 knots. The remaining three ships will be sent off between January and July 2000. Commercial and technical operations of the fleet are contracted with subsidiaries of Norasia for the vessels, which will provide weekly services from Asian ports to the Pacific Northwest and the Pacific Southwest.
Abu Dhabi Forms Joint Fast Containership Line
Abu Dhabi Investment Company has established Abu Dhabi Container Lines Limited (ADCL) with Norasia Shipping Limited, Switzerland. The new venture will acquire and operate a fleet of 10 fast containership vessels servicing Asian ports and the Pacific Northwest of the U.S. and Canada. The 10 technologically driven vessels, seven of which have already been delivered, move at speeds of 25 knots. The remaining three ships will be sent off between January and July 2000. Commercial and technical operations of the fleet are contracted with subsidiaries of Norasia for the vessels, which will provide weekly services from Asian ports to the Pacific Northwest and the Pacific Southwest.
