Latest news with #GuyNeivens
Mid East Info
10-07-2025
- Business
- Mid East Info
Al Seer Marine Secures AED 760 million from ADCB to Accelerate Portfolio Expansion - Middle East Business News and Information
Al Seer Marine ADX: ASM, a frontrunner in the maritime industry and a subsidiary of IHC ADX: IHC, has secured AED 760 million ($207 million) financing facility from Abu Dhabi Commercial Bank PJSC ADCB. The eight-year facility is secured through first-priority mortgages over a selected group of operating vessels, reinforcing the company's capital efficiency and asset-backed growth strategy. ADCB, acting as sole underwriter and Mandated Lead Arranger, extended the facility on highly competitive terms—marking the second major transaction between the two organisations. In early 2025, ADCB provided an AED 210 million ($57 million) facility to ASBI Shipping FZCO, the joint venture between Al Seer Marine and B Shipping, to support the acquisition of small and midsize LPG tankers. 'We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. With this funding arrangement, we're well-placed to serve the country's momentum to accelerate investment across LNG, LPG, crude oil, and petrochemicals. ADCB's continued partnership reflects deep institutional trust in our long-term strategy,' said Guy Neivens, Chief Executive Officer of Al Seer Marine.
Gulf Today
09-07-2025
- Business
- Gulf Today
ASM secures Dhs760 million financing facility from ADCB
Al Seer Marine (ASM), a subsidiary of IHC, has secured Dhs760 million ($207 million) financing facility from Abu Dhabi Commercial Bank (ADCB). The eight-year facility is secured through first-priority mortgages over a selected group of operating vessels, reinforcing the company's capital efficiency and asset-backed growth strategy. ADCB, acting as sole underwriter and Mandated Lead Arranger, extended the facility on highly competitive terms-marking the second major transaction between the two organisations. In early 2025, ADCB provided an Dhs210 million ($57 million) facility to ASBI Shipping, the joint venture between Al Seer Marine and B Shipping, to support the acquisition of small and midsize LPG tankers. 'We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. With this funding arrangement, we're well-placed to serve the country's momentum to accelerate investment across LNG, LPG, crude oil, and petrochemicals. ADCB's continued partnership reflects deep institutional trust in our long-term strategy,' said Guy Neivens, Chief Executive Officer of Al Seer Marine. Al Seer Marine has steadily earned the confidence of top-tier financial institutions, securing support from local leaders. The company has leveraged this financial backing to develop a resilient, future-ready fleet while advancing strategic investments across multiple sectors, including naval shipbuilding, autonomous Unmanned Surface Vehicle (USV), the world's largest 3D printer, and more. Meanwhile in May Al Seer Marine (ASM), a frontrunner in advanced maritime solutions and a subsidiary of International Holding Company (IHC), has secured a production agreement valued at Dhs47.6 million to deliver high-speed interceptor vessels to Albwardy Damen (Damen Shipyards Sharjah – DSSh). Delivery will span 42 months, with the units slated for integration into offshore patrol vessels (OPVs). All vessels will be designed, built, and outfitted entirely in the UAE, in alignment with the country's 'Make it in the Emirates' industrialisation initiative. 'The global OPV market is projected to grow from $38.1 billion in 2024 to $73.3 billion by 2033, at a CAGR of 7.15 per cent, according to a recent report published via GlobeNewswire—positioning it as one of the highly profitable segments in the shipbuilding industry,' said Guy Neivens, CEO of Al Seer Marine. He added, 'With our long-term strategic vision, we anticipated this trajectory early, driving targeted investments in our technologies, infrastructure, and engineering depth to establish the naval shipbuilding vertical as a core driver of our revenue growth, portfolio diversification, margin resilience, and long-term value creation for our investors.' The move comes in response to accelerating global and regional demand for OPVs, particularly in the Middle East, where maritime security and naval capability development have become national imperatives. In 2024, Al Seer Marine reported operational profits of Dhs107 million on revenues exceeding Dhs1.28 billion. The new production mandate is expected to enhance financial performance over the contract period and further strengthen the company's shift toward high-value, IP-driven manufacturing and defence export capabilities within the UAE. Earlier in October 2024 Al Seer Marine, a frontrunner in the maritime industry and a subsidiary of International Holding Company (IHC), announced that it has secured $80 million in financing from BOCOM Financial Leasing, (BOCOM Leasing), a subsidiary of the Bank of Communications, one of China's largest commercial banks, for its newly delivered MR tankers, Betelgeuse and Bellatrix. This transaction represents the first financing that Al Seer Marine has secured for its shipping fleet from outside the UAE. These two tankers have been built ready for alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol, ensuring compliance with the latest environmental regulations. With a deadweight of 49,757 MT each, both vessels are IMO II/III oil and chemical tankers designed to carry six fully segregated grades of cargo and have been fixed on five-year time charters (TC) to Reliance International DMCC. Guy Neivens, CEO of Al Seer Marine, said, 'Securing this financing from BOCOM Leasing is a key step in our strategy to diversify funding sources and strengthen our fleet with backing from both local and international financial institutions. It highlights the robustness of our financial performance, which continues to attract global investors like BOCOM. This deal reflects strong confidence in the future revenue potential of Al Seer Marine, driven by the expected rise in global demand for liquefied natural gas (LNG) and petrochemicals. As the world shifts towards sustainable energy sources, we are well-positioned to capitalise on these trends and drive sustainable growth for our company and its stakeholders.' WAM
Al Etihad
09-07-2025
- Business
- Al Etihad
Al Seer Marine secures Dh760 million ADCB facility to finance its expansion plans
9 July 2025 10:07 ABU DHABI (ALETIHAD)Al Seer Marine Supplies & Equipment Company, a leading player in the maritime sector and a subsidiary of International Holding Company (IHC), has secured a Dh760 million ($207 million) financing facility from Abu Dhabi Commercial Bank (ADCB) to support the next phase of its growth eight-year facility is backed by first-priority mortgages on selected operating vessels and marks the second major transaction between ADCB and Al Seer Marine. In early 2025, ADCB extended a Dh210 million ($57 million) facility to ASBI Shipping FZCO — a joint venture between Al Seer Marine and B Shipping — to fund acquisitions of small and midsize LPG on the development, Guy Neivens, CEO of Al Seer Marine, said, 'We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. ADCB's continued partnership reflects deep institutional trust in our long-term strategy.'The company said the funding will reinforce capital efficiency and enable asset-backed expansion across LNG, LPG, crude oil, and petrochemical shipping segments. Al Seer Marine continues to attract the confidence of both local and global institutions, having previously secured support from Abu Dhabi Islamic Bank (ADIB), First Abu Dhabi Bank (FAB), and China's BOCOM this financial backing, Al Seer Marine is also driving strategic investments in areas such as naval shipbuilding, autonomous Unmanned Surface Vehicles (USVs), and advanced manufacturing, including the world's largest 3D printer. The company positions itself as a future-ready maritime leader with capabilities spanning commercial shipping, yacht operations, and high-tech marine innovation. It is an ADX-listed company with a market capitalisation of Dh3.94 billion.
Al Etihad
02-06-2025
- Business
- Al Etihad
Al Seer Marine and BGN affiliate launch JV to meet growing LPG demand
2 June 2025 10:09 ABU DHABI (ALETIHAD)Al Seer Marine, a subsidiary of International Holding Company (IHC), has announced the launch of a joint venture (JV) with B International Shipping & Logistics—an affiliate of energy trader BGN — to strengthen its footprint in the liquefied petroleum gas (LPG) logistics Seer Marine, a listed company on the Abu Dhabi Securities Exchange (ADX) with a market cap of Dh3.55 billion, posted a statement announcing the JV on the ADX's website. The new joint venture, named ASBI Shipping FZCO, aims to own and operate mid-sized LPG and product tankers, targeting growing demand in regional and infrastructure-constrained part of its initial operations, ASBI has acquired two 22,000 cbm semi-refrigerated LPG tankers, Alkaid and Alcor. The vessels are backed by a 10-year charter agreement with BGN INT DMCC, a subsidiary of BGN that trades over 50 million metric tonnes of commodities annually. The deal is expected to generate Dh660 million ($180 million) in revenue through on the partnership, Guy Neivens, CEO of Al Seer Marine, said, 'The global energy landscape is evolving rapidly, reshaping how countries manage their supply chains. This transformation is driving increased demand for smaller, more flexible LPG vessels that can efficiently serve regional hubs and infrastructure-constrained ports.'To support the vessel acquisition, Abu Dhabi Commercial Bank has extended Dh210 million ($57.2 million) in senior secured term financing. The seven-year facility is secured by the vessels and their associated cash flows, underlining institutional confidence in the JV's commercial to Rüya Bayegan, CEO of BGN Group,'Our charter with ASBI aligns with BGN's focus on securing transition fuel supply chains. Smaller vessels are indispensable for ports lacking VLGC infrastructure.'The vessels, equipped with semi-refrigerated systems and high-standard safety features, are designed for carrying propane, butane, ammonia, and other petrochemical cargoes. These mid-size carriers are particularly suited to serve emerging hubs across Africa, South Asia, and Southeast Asia, where 30% of LPG shipments now rely on sub-30,000 cbm Turgut, Director at B International Shipping & Logistics, highlighted the demand outlook, 'We see this as a unique market window and intend to grow ASBI's fleet to meet regional demand and become a global leader in this specialised segment.' The formation of ASBI Shipping reflects Al Seer Marine's capital-efficient expansion model, aimed at scaling through partnerships and capturing market share in high-demand maritime sectors.
Al Etihad
20-05-2025
- Business
- Al Etihad
Al Seer Marine awarded Dh47.6 million contract to deliver high-speed interceptor vessels
20 May 2025 13:48 ABU DHABI (WAM)Al Seer Marine (ASM), a frontrunner in advanced maritime solutions and a subsidiary of International Holding Company (IHC), has secured a production agreement valued at Dh47.6 million to deliver high-speed interceptor vessels to Albwardy Damen (Damen Shipyards Sharjah – DSSh).Delivery will span 42 months, with the units slated for integration into offshore patrol vessels (OPVs). All vessels will be designed, built, and outfitted entirely in the UAE, in alignment with the country's 'Make it in the Emirates' industrialisation initiative.'The global OPV market is projected to grow from $38.1 billion in 2024 to $73.3 billion by 2033, at a CAGR of 7.15 per cent, according to a recent report published via GlobeNewswire—positioning it as one of the highly profitable segments in the shipbuilding industry," said Guy Neivens, CEO of Al Seer added, "With our long-term strategic vision, we anticipated this trajectory early, driving targeted investments in our technologies, infrastructure, and engineering depth to establish the naval shipbuilding vertical as a core driver of our revenue growth, portfolio diversification, margin resilience, and long-term value creation for our investors.'The move comes in response to accelerating global and regional demand for OPVs, particularly in the Middle East, where maritime security and naval capability development have become national imperatives. In 2024, Al Seer Marine reported operational profits of Dh107 million on revenues exceeding Dh1.28 billion. The new production mandate is expected to enhance financial performance over the contract period and further strengthen the company's shift toward high-value, IP-driven manufacturing and defence export capabilities within the UAE
