Al Seer Marine, an Abu Dhabi-listed marine company engaged across multiple marine sectors, has entered into a collaboration agreement with Netbulk, a one-stop maritime solution company based in Singapore, as part of its growth strategy to expand its worldwide freight services.
The agreement between the two companies will focus on Middle East Asia as well as the Asia Pacific and help clients to mitigate supply chain uncertainties through the collaboration of 10 commercially controlled ships, with further plans to increase the fleet through future partnerships or acquisitions.
Furthermore, this alliance is expected to provide freight services to 5 million tons of dry bulk cargoes in one year, with an expected turnover of $100 million.
Mr. Guy Neivens, Chief Executive Officer of Al Seer Marine said that, “Analysis of market trends show that the global dry bulk trade is increasingly growing, driving up demand for cargo freight services. By amplifying our network in Singapore in collaboration with Netbulk, Al Seer Marine continues to execute on our long-term cargo strategy through key regional initiatives while also securing control of commercial ships as we overcome supply chain challenges.”
“Combining the expertise of our team together with Netbulk’s established cargo management, we will provide industry-leading logistical solutions and ensure our clients can access a wide range of responsive services,” Mr. Neivens added.
Founded in 2015, Netbulk provides a wide range of commercial activities, including trading, chartering, consultancy and investment. It offers freight services to shippers and charterers globally.
Earlier last month, Al Seer Marine announced a strong second quarter performance, recording $240 million (AED883 million) in profit, more than doubling for the same period last year. These solid financials are driven by Al Seer Marine’s strategic investments, diverse management, and product services.
