27 Apr 2011
(MENAFN) Gulf Navigation Holdings stated that a new joint venture with Deutsche Securities and King and Spalding would be launched in Saudi Arabia, reported Arabian Business.
The company said that the new venture would own four very large crude carriers (VLCC) in Saudi Arabia. The company added that its plans for the subsidiary to have a total of 9 VLCCs over the course of the coming four year.
Gulf Navigation added that once necessary approvals are secured, the new venture would be listed in the Saudi stock market.
The company’s five-year plan would see the expansion of the carrying capacity of crude oil to 18 million barrels, chemical carriers to 12 and establishing an Aframax and offshore fleets.
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BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
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BBK discloses its financial results for the year ended 31st December 2025
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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