United Arab Emirates (UAE)-based Gulf Navigation Holding Group’s maritime subsidiary has signed a deal with Polimar Turkish Holding to form a new joint venture (JV) company to cater to maritime agencies, vessels’ services and marine products.

To be headquartered in Dubai, UAE, the JV will function as a subsidiary of Gulf Navigation Holding Group and will serve several customers operating in the fields of oil, gas, offshore vessels, container liner vessels, bulk carriers, cruise ships, yachts, and marine facilities.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The proposed JV will further help Gulf Navigation Holding to expand its maritime agency fleet from four service boats to ten crews, tugs and offshore support vessels.

"The group is proud and pleased for this strategic partnership."

The JV is also expected to realise revenue of around $27m.

Gulf Navigation Holding board member, managing director and group CEO Khamis Juma Buamim said: “The group is proud and pleased for this strategic partnership and we are confident that step will contribute significantly in the process of expanding our services and commercial business to different parts of the world and raise the level and quality of services provided to our customers and raise the value of the company and its position in the local and global markets.”

From the new JV, Gulf Navigation Holdings expects to expand its shipping agency and marine product services portfolio and to serve its customers’ vessels in the major trading ports worldwide.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

With branches in Turkey, Bulgaria and Greece, Polimar Turkish Holding currently provides shipping services to various organisations across the globe.

Last month, Gulf Navigation Holding entered into a global strategic partnership with SeaQuest Group in the fields of ship management and advisory services, as well as marine project management.

Image: Deal signing between Gulf Navigation Holding Group and Polimar Turkish Holding. Photo: courtesy of Gulf Navigation Holding PJSC.