Dubai Shipowner Weighs Share Sale, Islamic Bonds in Expansion - Bloomberg:
"Gulf Navigation Holding PJSC may sell shares or Islamic bonds as the Dubai-based shipowner plans to seek funds to double or triple its fleet of oil and chemical ships, Chief Executive Officer Khamis Juma Buamim said. The company wants to acquire chemical and product tankers as well as offshore support vessels, after it agreed last month to settle historical liabilities, Buamim said in a Bloomberg TV interview. Gulf Navigation currently owns eight chemical tankers and four crew boats, according to its website. “We need to double our fleet or triple our fleet by 2020,” Buamim said. The company could sell shares or issue short-term Islamic bonds, or sukuk, to fund the growth, he said. “Most of the legacy issues are sorted out or about to be finalized.”"
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