Dubai-based independent chemical tanker company Gulf Energy Maritime (GEM) has taken delivery of Samsung Heavy Industries-built Gulf Valour, its second Aframax vessel.  

GEM, a joint venture partnership between Dubai’s Emirates National Oil Company, Abu Dhabi’s International Petroleum Investment Company (IPIC), the Oman Oil Company and Thales of France under the UAE Offsets programme, received the Gulf Valour just two months after the delivery of Gulf Vision, their first Aframax vessel also built by Samsung.

The new vessel, like Gulf Vision, has high-tech equipment that meets all international environment safety requirements, the company said. Capacity is 114,700 DWT with capability to carry both clean petroleum products and dirty products.

Standard Chartered had arranged a Korean Export Credit Agency (ECA) to back the vessel’s financing.

The delivery of the second Aframax vessel reflects GEM’s leadership of responding to the market’s requirement as the industry gradually improves from the impact of the global financial crisis, said GEM CEO Ahmed Al Falahi.