Abu dhabi: Al Seer Marine (ASM), a subsidiary of IHC, has secured a significant AED760 million (US$207 million) financing facility from Abu Dhabi Commercial Bank PJSC (ADCB). This eight-year facility is backed by first-priority mortgages over a selected group of operating vessels, supporting the company's capital efficiency and asset-backed growth strategy.
According to Emirates News Agency, ADCB acted as the sole underwriter and Mandated Lead Arranger for the facility, offering it on highly competitive terms. This marks the second major transaction between ADCB and Al Seer Marine. In early 2025, ADCB provided an AED210 million ($57 million) facility to ASBI Shipping FZCO, a joint venture between Al Seer Marine and B Shipping, to facilitate the acquisition of small and midsize LPG tankers.
Guy Neivens, Chief Executive Officer of Al Seer Marine, stated, "We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. With this funding arrangement, we're well-placed to serve the country's momentum to accelerate investment across LNG, LPG, crude oil, and petrochemicals. ADCB's continued partnership reflects deep institutional trust in our long-term strategy."
Al Seer Marine has consistently gained the confidence of prominent financial institutions, securing support from local leaders. The company has used this financial backing to develop a robust, future-ready fleet while making strategic investments in sectors such as naval shipbuilding, autonomous Unmanned Surface Vehicle (USV) technology, and the world's largest 3D printer.
