Al Seer Marine, a subsidiary of International Holding Company, has taken delivery of MT Saiph and her sister ship from K Shipbuilding Korea. These state-of-the-art vessels are the second pair in a series of six newbuilding MR tankers.
Each vessel is equipped with an Exhaust Gas Cleaning System (EGCS) and engineered to accommodate alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol.
These advanced features ensure future adaptability and compliance with stringent environmental regulations while meeting the surging global demand for clean petroleum products (CPP) and chemicals transportation, according to a press release.
The delivery is financed by BOCOM Financial Leasing Co., Ltd. (BOCOM Leasing), a subsidiary of Bank of Communications, securing US$ 80mn—US$ 40mn per vessel.
Strategic investment
“At Al Seer Marine, we continue to invest strategically in product and chemical tankers, which represents one of the most promising sectors in the maritime industry. The expansion of our partnership with BOCOM Leasing, our first international financing partner, validates our growth trajectory and market potential,” stated Guy Neivens, CEO, Al Seer Marine.
With a deadweight of 49,757 MT each, the two modern vessels are IMO II/III oil and chemical tankers carefully engineered to carry six fully segregated grades of cargo for optimal global operations.
The vessels’ dimensions and sophisticated design ensure versatile navigation capabilities and unrestricted access to major ports worldwide, including efficient passage through strategic maritime routes. Both tankers have secured five-year time charters with Reliance Industries (Middle East) DMCC, valued at US$ 42mn per vessel, joining their sister ships Betelgeuse and Bellatrix in the charter arrangement, a press statement concluded.
