Gulf Navigation and Mena Energy form cooperation in leasing, acquisition and commercial management of oil tankers
GulfNav, in line with its announced strategy of fleet & business expansion for sustainable growth, has marked another milestone by entering into strategic alliances with MENA ENERGY, the company said in its press release.
The strategic alliances for mutual co - operation in ship acquisition, chartering and commercial management aims to set out a platform for the parties to have an enhanced commercial relationship and to further strengthen their existing business ties. The parties have agreed that Gulf Navigation would acquire vessels that would be time - chartered to MENA Energy for carrying Crude and the petroleum products.It is intended that Gulf Navigation will acquire or order new builds upto 12 vessels ranging between 50,000mt dwt and 120,000mt dwt.
MENA ENERGY is the region’s leading trader of crude oil & petroleum products and that manages petroleum products storage tank terminals and also owns & operates Crude oil and product tankers.
