UAE leads GCC in secondhand ship buys

GCC companies have spent $318m this year.


 Shipping companies based in the United Arab Emirates are leading the GCC in secondhand vessel purchases this year, making up for 84% of all ships bought so far in 2013.

New figures from VesselsValue.Com show that UAE based firms have purchased 32 vessels this year, spending just over $210m.

The list of new acquisitions includes 22 tankers, four bulkers, six gas carriers and one boxship.


Shipping companies from Saudi Arabia have purchased four vessels this year, all tankers, for a total outlay of $68.7m.

That includes two aframxes purchased by Red Sea Marine early in the year for a combined total of $39m.

Bahrain companies account for two buys, both gas carriers, spending $40m.

In total, GCC based companies have purchased 38 vessels, including five aframax tankers and seven small chemical tankers for a combined total of $318.7m.

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