Gulf Energy Marine (GEM) has taken delivery of the first ever Panamax vessel built by the Korean ship builders Hyundai Mipo Dockyard (HMD).
The 75,000 dwt product oil carrier, Gulf Castle is the first of four new Panamax vessels scheduled for delivery to the Dubai-based tanker operator this year from HMD. The Gulf Castle becomes the fifth Panamax in GEM’s fleet.
“The delivery of Gulf Castle marks a significant milestone in our partnership with Hyundai Mipo Dockyard. Being the very first Panamax vessel manufactured out of its dockyards, GEM is honoured in being their customer for such a historic event,” Ahmed Essa Hareb Al Falahi, CEO of GEM said.
“Gulf Castle is a ship which both GEM and HMD will always remember as crucial in our business when we endeavoured to raise the stakes in spite of the risks faced by the global economic downturn rather than be complacent about the future,” he added.
GEM, who also took delivery of 47,000 dwt Gulf Muttrah this month, now has a fleet strength of 13 vessels.
