Al Seer Marine (PJSC), a subsidiary of International Holding Company (IHC), has entered into a collaboration agreement with Netbulk Pte Ltd, a Singapore-based one-stop marine solutions company, as part of its growth strategy to expand its global freight services.
Founded in 2015, Netbulk offers a wide range of business activities, including trading, chartering, consulting and investing. It offers freight services to shippers and charterers around the world.
The agreement between the two companies will focus on the Middle East, Asia and Asia-Pacific and will help customers mitigate supply chain uncertainties through the collaboration of 10 commercially controlled vessels, with new plans to increase the fleet through future partnerships or acquisitions.
This collaboration is expected to provide freight services to 5 million tons of dry bulk cargo in one year, with an expected turnover of $100 million.
Guy Neivens, Chairman and CEO of Al Seer Marine, said: “Analysis of market trends shows that the global dry bulk trade is growing, increasing the demand for cargo services.
“By amplifying our network in Singapore in conjunction with Netbulk, Al Seer Marine continues to execute our long-term cargo strategy through key regional initiatives while ensuring control of commercial vessels as we overcome the challenges of the Supply Chain.
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“By combining our team’s expertise with Netbulk’s established freight management, we will provide state-of-the-art logistics solutions and ensure our customers have access to a wide range of responsive services.”
Earlier last month, Al Seer Marine reported a strong second-quarter performance, posting a profit of $23 million, more than doubling the same period last year. These strong financial results are driven by Al Seer Marine’s strategic investments, diversified management and product services.
Al Seer Marine is a global leader in marine services and has grown rapidly in the commercial shipping segment.
The company aims to grow its fleet to become the largest in the MEA market and is analyzing expansion initiatives in the commodity carrier, gas carrier and dry bulk sectors, with near-term plans for acquisition from 10 to 15 ships in 2022.
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