DUBAI, UAE – Shipping group Gulf Navigation Holding (GulfNav) plans a series of new ventures over the next five years.
These include offshore support services; acquiring vessels on a bare boat basis with a purchase option; and purchasing work boats for offshore projects.
Additionally, the group proposes the formation of a ship repair maintenance and technical service provider operating out of an existing base in Khorfakkan, serving companies in the northern part of the UAE.
New managing director and CEO Khamis Juma Buamim will restructure the company and lead the expansion plans.
He was previously executive chairman of Drydocks World and Maritime World, and before that held various management positions with Conoco and ConocoPhillips for 26 years, including vice president ofDubai Petroleum Co., a ConocoPhillips affiliate in the UAE.
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