Gulf Navigation forms agency partnership with Polimar Turkish

The rapid diversification at Dubai’s erstwhile tanker operator Gulf Navigation continues with news that it has formed a partnership with Polimar Turkish Holding to provide ship agency services.

Expected revenue from this partnership will be around $27m, Gulf Navigation said in a release.

The new joint venture company will be headquartered in Dubai starting from this month.

Under Khamis Juma Buamim, who was appointed group CEO of Gulf Navigation last April, a massive diversification of the line has got underway, including entering third party shipmanagement and establishing a shipyard joint venture with Chinese partners in the north of the UAE. Khamis formerly headed up Drydocks World.