GEM continues shipping expansion with sixth vessel

The ship delivery was taken at HMD?s Ulsan shipyard by GEM?s senior executives.

Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of its sixth Panamax tanker.

The 75,000dwt product oil tanker, Gulf Cobalt, is the second of four new Panamax vessels scheduled for delivery this year from Hyundai Mipo Dockyard (HMD). The vessel is also the fourth of six newbuildings scheduled for delivery to GEM this year.

Gulf Castle, which was delivered to GEM in March was the first ever Panamax built by HMD, and the remaining two vessels to be delivered for the year are of the same type.

“The delivery of Gulf Cobalt signifies GEM’s commitment not just to growth but to a responsible business operation,” said Ahmed Al Falahi, CEO, GEM. “The new Panamax’s delivery represents GEM’s resolve of achieving its targets for 2009 while strictly adhering to the highest standards of safety, reliability and environmental protection.”

The ship delivery was taken at HMD’s Ulsan shipyard by GEM’s senior executives.

Advertisement

FEATURED COMMENT Please click here to comment on this article