Al Seer Marine orders four MR tankers in South Korea

Al Seer Marine, part of Abu Dhabi’s International Holding Company (IHC), has booked four MR tankers for construction at South Korea’s K Shipbuilding.

The ships will be built at Jinhae Shipyard and delivered before the end of the fourth quarter of 2024. They will be LNG-ready and are being designed to be potentially ready to adapt to new fuels such as ammonia and methanol.

The deal is worth around $175m, increasing Al Seer’s fleet value to more than AED2.3bn ($626m).

Guy Neivens, chief executive of Al Seer Marine, commented: “Al Seer Marine is very serious about becoming a global market leader across different marine sectors. Our team is pushing hard, and this is yet another endorsement of our global expansion strategy. We are working together with our partners to fulfill the need for modern and efficient tonnage in the markets we serve.”

Al Seer has grown its commercial shipping operation substantially over the past 10 months. The company recently added its third VLCC, the 2020-built Acrux, former Elandra Everest, increasing its total fleet to 10 ships.