Gulf Energy Maritime (GEM), the Middle East’s largest independent commercial product tanker operator, has taken delivery of its 14th vessel from Hyundai Mipo Dockyard (HMD) where it was built.

The latest addition is the Gulf Rastaq, an IMO II-N2 type 47,000 dwt tanker which is the fourth of its kind in the company’s fast-growing fleet.  GEM officials led by Ovijit Roy, head of fleet, received the vessel from HMD officials during a ceremony held in Korea
“Having received three out of six new vessels scheduled for delivery this year, this certainly is indicative of how GEM is committed on achieving all its targets for the year,” said Ahmed Essa Hareb Al Falahi, CEO, GEM.
“At the same time, the delivery of Gulf Rastaq is an indication of how HMD has been doing a great job of meeting our targets that allow us to provide the market with safe, reliable and environment-conscious vessels.
“GEM remains steadfast in being consistent with the highest standards of safety and quality for the benefit, not just of our customers, but also of the environment and our staff.”
In March the company received the Gulf Castle, the first-ever 75,000 dwt product oil carrier built by HMD and the fifth vessel of this type in GEM’s fleet. The remaining three vessels scheduled for delivery to GEM by HMD this year will be of the same type.
In addition, GEM also has on order two Aframax vessels from Samsung Heavy Industries with a capacity of 114,700 dwt each. They are of Large Range 2 (LR2) specification capable of carrying both clean petroleum products and dirty products such as crude and fuel oil, and scheduled for delivery in 2011.
Established four years ago, Dubai-based GEM has now an asset value of $1.3 billion. It is a joint venture partnership between Dubai’s Emirates National Oil Company, Abu Dhabi’s International Petroleum Investment Company, the Oman Oil Company (OOC) and Thales of France and was established under the UAE Offsets programme.
 The company received three awards from the shipping fraternity in 2008, two of which came from Lloyd’s Middle East which presented it with the Tanker Company of the Year title and an award in the clean seas category. Seatrade ME honoured it with an award in the safety and quality category.                
It is certified by Lloyd’s Register Quality Assurance to the ISO 9001-2000 quality management system and ISO 14001-2004 environment management system for the operational and technical management of its fleet.