Al Seer Marine attains fleet of 18 vessels in just three years

Takes delivery of the final two dual-fuel Very Large Gas Carriers (VLGCs), Megrez and Mizar

Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, has completed the first stage of the expansion of its Commercial Shipping Division, marking a major milestone by reaching a total fleet of 18 vessels in just three years.

In partnership with BGN, one of the fastest-growing energy and commodities trading companies, Al Seer Marine has also completed its dual-fuel VLGC fleet program through their joint venture ABGC DMCC.

The Megrez (86,925 CBM) was built by Kawasaki Heavy Industries at its Sakaide Shipyard in Japan, while the Mizar (88,000 CBM) was constructed by Hyundai Samho Heavy Industries in Mokpo, South Korea. Both vessels will be managed by Fleet Management Limited, Singapore, ensuring operational excellence aligned with international standards.

Sustained returns

“These new vessels reinforce our competitive edge, support sustained returns, and enhance shareholder value, building on our strong first-half 2025 results marked by double-digit revenue growth and solid profitability,” asserted Guy Neivens, Chief Executive Officer, Al Seer Marine.

The final two vessels in the programme bring ABGC DMCC’s VLGC fleet to five vessels, each equipped with dual-fuel capabilities. Megrez is designed to carry both LPG and ammonia (NH₃) cargoes, enhancing the fleet’s operational flexibility and efficiency.

“These vessels are technologically equipped to meet the growing demand for cleaner fuels. This futureproofing ensures long-term commercial viability and again demonstrates BGN’s commitment to growing our business, while also decarbonizing our industry,” commented Ozan Turgut, Director of Shipping, BGN.