Gulf Navigation sells two tankers for $98 million | The National

Gulf Navigation sells two tankers for $98 million | The National:



"Gulf Navigation has struck an agreement to sell its two oil tankers for $98 million (Dh360m), providing some relief to the beleaguered company.



The Dubai-based shipping company announced today that it had signed a memorandum of understanding with DHT Holdings of Bermuda for the sale of its Gulf Sheba and Gulf Eyadah tankers.



The agreed price comes in higher than the Dh312.4m that Gulf Navigation had estimated that it could recover for the vessels in its third-quarter results published in November.



DHT expects to take delivery of the vessels next month, according to a statement on its website."



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