GulfNav sees alternative fuel bunkering opportunities in Fujairah
Ahead of his appearance at Seatrade Maritime Qatar in February, Seatrade Maritime News spoke with GulfNav Group CFO Ali Abouda about recent and ongoing developments at the tanker owner, maritime logistics, ship management and agency group, and the company's ambitions in Qatar.
What is the current state of the acquisition of Brooge Energy Limited, and how will the acquisition affect GulfNav’s operations and capabilities?
[AA:] As of now GulfNav is in an advanced stage of the acquisition process which is still subject to regulatory approvals. This acquisition once completed will have a great impact on Gulfnav’s operations and capabilities through integrated services offerings of an end to end logistic solution, establishing a new market in the space of alternative fuel which has been picking up.
Given the strategic location of Fujairah where the storage tank farm is located, alternative fuel bunkering could be a significant business. As we have seen in Singapore, the sales of alternative fuels were over 1m tonnes in 2024, so I believe this sets the scene for a successful mirror operation in this region with a great potential for growth and expansion. Finally, integrating storage services into its portfolio allows GulfNav to diversify its revenue streams, reducing dependence on shipping operations and mitigating market volatility risks.
