Two tough years follow the heady plans of Dubai’s Gulf Navigation | The National

Two tough years follow the heady plans of Dubai’s Gulf Navigation | The National:

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Gulf Navigation Holding

Two years ago, Abdullah Al Shuraim,the chairman of the Dubai shipping company Gulf Navigation, announced his company’s latest achievement – buying up so much tanker capacity that its fleet could transport the daily output of the world’s top crude exporter.

But today the company is now in a fight to regain control of two supertankers, currently held in foreign ports, that it bought to transport the largest of crude cargoes.

“We have multiplied our crude-carrying capacity four times to equal the crude export of Saudi Arabia for one day,” Mr Al Shuraim said two years ago. “Our five-year plan reflects a forward-thinking strategy that will take Gulf Navigation Holding to a heightened level of global competitiveness.”"

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