Abu dhabi: Al Seer Marine (ASM), a leader in advanced maritime solutions and subsidiary of IHC, along with BGN, has announced the successful delivery of Merak, their third Very Large Gas Carrier (VLGC) equipped with ammonia-carrying capability. The vessel was delivered through their joint venture, ABGC DMCC, highlighting the strength of their collaboration in maritime advancement and fleet expansion.
According to Emirates News Agency, the Merak was delivered on 14th August 2025 by Hyundai Samho Heavy Industries (HSHI) in the Republic of Korea. With a capacity of 86,423 CBM, this delivery cements Al Seer Marine's leadership in the global shipping industry. The purchase of Merak, along with two additional VLGCs, was financed through a syndicated sharia-compliant facility led by Abu Dhabi Islamic Bank (ADIB).
Managed by Fleet Management Singapore, Merak has embarked on its maiden voyage to the US Gulf to load its initial shipment of propane and butane. Following this delivery, ABGC DMCC anticipates the arrival of two more carriers under construction from a 2023 order: a VLGC from Korea's Hyundai Samho Heavy Industries, due in November 2025, and an LPG/NH3 carrier from Japan's Kawasaki Heavy Industries, slated for October 2025.
Guy Neivens, CEO of Al Seer Marine, expressed that their strategy focused on fleet and cargo diversification aligns with the transition of the global energy supply. This approach has resulted in a 20.2% increase in operational revenues and an 81.7% rise in gross profit in the first half of 2025. The delivery of Merak reinforces their leadership in maritime solutions.
Rya Bayegan, CEO of BGN Group, remarked on the delivery of Merak as a testament to their strategic partnership with Al Seer Marine. The vessel's dual-fuel capability supports industry decarbonization efforts and aligns with BGN's ambitions to expand into ammonia trading, complementing their success in the LPG market.
With Merak's addition, Al Seer Marine's fleet now comprises 16 vessels, including LPG carriers, crude and product tankers, Very Large Crude Carriers (VLCCs), Medium Range (MR) tankers, bulk carriers, and VLGCs. This diverse fleet ensures comprehensive coverage across key energy markets, supporting sustainable revenues and strong returns for investors.
