GEM boosts fleet with new delivery

Gulf Energy Maritime (GEM), the Middle East's largest independent commercial product tanker operator, has taken delivery of the first Panamax built by South Korean ship building giant, Hyundai Mipo Dockyard (HMD), marking a historic event in association with the Dubai-based carrier.

The 75,000 dwt product oil carrier, Gulf Castle, is the first of four new Panamax vessels scheduled for delivery this year from HMD, and is the fifth Panamax vessel in the fleet.

Earlier this month GEM took delivery of the 47,000 dwt Gulf Muttrah, and with Gulf Castle, GEM's fleet strength now reaches 13 vessels.

"The delivery of Gulf Castle marks a significant milestone in our partnership with Hyundai Mipo Dockyard. Being the first Panamax vessel manufactured out of its dockyards, GEM is honoured in being its customer for such a historic event," said Ahmed Essa Hareb Al Falahi, CEO, GEM.

"Gulf Castle will be crucial in our business as we endeavoured to raise the stakes in spite of the risks faced by the global economic downturn rather than be complacent about the future."

Like all our previous vessels, HMD has applied and implemented for Gulf Castle the same design requirements necessary to meet GEM's high standards of safety and quality. "As the second vessel received from HMD this year, we are confident the remaining four vessels will also be delivered on-time and adhere to the highest standards of safety and quality for the benefit of customers and environment," said Al Falahi.

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