Al Seer Marine Achieves Significant Expansion With 18-Vessel Fleet Completion

Al Seer Marine (ASM) has reached a significant milestone by expanding its Commercial Shipping Division to 18 vessels within three years. This achievement highlights ASM's commitment to becoming a global leader in maritime transport. The expansion is expected to accelerate revenue growth and solidify its position as one of the most diversified fleet owners in the Middle East.

In collaboration with BGN, a rapidly growing energy and commodities trading firm, ASM has completed its dual-fuel VLGC fleet programme through their joint venture, ABGC DMCC. The delivery of the final two vessels from the 2023 order, Megrez and Mizar, on 31st October and 3rd November 2025 respectively, brings ABGC DMCC’s VLGC fleet to five vessels. This strategic move enhances ABGC DMCC’s role in promoting cleaner and more efficient energy transportation.

The newly delivered vessels, Megrez and Mizar, were constructed by Kawasaki Heavy Industries in Japan and Hyundai Samho Heavy Industries in South Korea, respectively. Managed by Fleet Management Limited in Singapore, these ships ensure operational excellence that meets international standards. Megrez is designed to carry both LPG and ammonia (NH₃), enhancing operational flexibility.

Guy Neivens, CEO of Al Seer Marine, stated: "The global LPG and LNG energy supply chain is undergoing a fundamental reshaping amid ongoing geopolitical and trade disruptions. This transformation is driving higher demand in the LGC and VLGC carrier segment, which is projected to grow through 2040. Our decision to invest early in a state-of-the-art VLGC fleet has proven both timely and strategically sound."

Ozan Turgut, Director of Shipping at BGN, expressed satisfaction with the new additions: "We are extremely pleased to take delivery of two new vessels in BGN’s growing fleet. This comes only months after our last vessel, the Merak set sail on its maiden voyage delivering essential energy for our global customers." These advanced gas carriers meet stringent sustainability standards with dual-fuel systems capable of using both traditional and cleaner fuels.

Diversified Fleet Portfolio

The completion of this programme brings Al Seer Marine’s total fleet to 18 vessels across various segments including LPG carriers, VLGCs, VLCCs, MR tankers, bulk carriers, and product tankers. This diverse portfolio is managed through direct ownership and strategic joint ventures. It provides sustainable value to investors across key energy-transportation sectors.

The expansion reflects ASM's ambitious vision for growth. The addition of these new vessels strengthens their competitive edge while supporting sustained returns and enhancing shareholder value. The company reported double-digit revenue growth and solid profitability in the first half of 2025.

With inputs from WAM