The decline in the company’s financial performance is due to the high operating costs of vessels coupled with lower asset utilisation in the quarter
This represents a year-on-year increase of 19%, but still resulted in a net loss of AED 11 million in Q1 2019 compared to profits of AED 5 million during the same period last year.
The upgrade will equip GulfNav vessels with state-of-the-art technologies that will reduce operational expenses.
Gulf Navigation Holding has appointed Al Ramz Corporation Investment and Development, listed in the Dubai Financial Market, as a co-bookrunner to manage its rights issue in order to increase its capital to AED 1 billion.
Gulf Navigation Holding (GulfNav) is in discussions to acquire a majority stake in Atlantic Navigation Holding, an integrated offshore supply operation in the region.
Dubai-based Gulf Navigation Holding has embarked on an ambitious fleet expansion programme that aims to increase the size of its fleet to 36 ships by 2021.
Dubai-based shipping company Gulf Navigation Holding has appointed former Drydocks World chairman Khamis Juma Buamim as the new managing director and group CEO.
Gulf Navigation Holding has confirmed the appointment of Parag Jain as the company’s new chief executive officer.
Gulf Navigation Holding is urging its shareholders to get in touch to collect dividends amassed from previous years.
Gulf Navigation Holding signs settlement agreement with Nordic American Tankers Limited, one of its primary creditors.
Decision comes a week after VLCC Gulf Sheba was arrested in Rotterdam.
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