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Al Seer Marine Delivers AED 89.2 Million Operating Profit with Around AED 579 Million in Total Revenue for the First Half of 2026

News — Tue, 04 Aug 2026 00:56:51 +0000

Generated AED 579 million in revenue and AED 89.2 million in operating profit for H1 2026, supported by strong underlying performance across the Group.
Maintained 100% deployment of all 18 commercial vessels worldwide despite disruption in regional shipping routes.
Achieved zero operational safety incidents while implementing comprehensive crisis management measures.
Closed the period with AED 7.8 billion in total assets and AED 3.9 billion in shareholders’ equity, with statutory net loss improving by 21% year-on-year.

Abu Dhabi, 29 July 2026: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, announced its financial results for the first half of 2026 (H1 2026), reporting an operating profit of AED 89.2 million before fair value adjustments to its investment portfolio, despite continued volatility in maritime trade routes across the GCC.

With total revenue of AED 578.9 million, Al Seer Marine demonstrated the strength of its underlying commercial operations and its ability to maintain robust performance. Al Seer Marine’s asset base stood at AED 2.30 billion in non-current assets and AED 5.53 billion in current assets as of 30 June 2026. The company maintains a solid capital base, with total shareholders’ equity of AED 3.9 billion, providing a strong financial foundation as global trade conditions continue to normalise.

Guy Neivens, CEO of Al Seer Marine, said: “The first half of 2026 tested the maritime sector in ways few could have anticipated, with global shipping routes disrupted by regional conflict. Yet, relying on our predictive risk management capabilities, we managed to stay ahead of the crisis, taking exceptional measures to protect the interests of our shareholders. All 18 of our commercial vessels were fully deployed worldwide, with zero strandings despite the crisis in the Strait of Hormuz. Meanwhile, we launched an emergency plan to ensure the safety and wellbeing of our team members, maintaining full operating capacity across our other business verticals, including Innovation, Defence & Technologies, and Yacht Management divisions. We are proud to be a key partner in supporting the UAE’s security strategy.”

The first half also delivered significant strategic milestones across the Group. Al Seer Marine maintained 100% operational uptime, progressed deliveries under a strategic national maritime security programme, and expanded its growth platform through agreements with Abu Dhabi Mobility on large-scale robotic 3D printing, RPM on advanced sea ambulance solutions, and The Captains Holding on an integrated maritime ecosystem. The company also joined the UAE Shipbuilders Consortium, strengthening its role in the development of the UAE’s maritime industrial base.

Al Seer Marine’s share capital stood at AED 1 billion as of 30 June 2026, with accumulated profits of AED 221.2 million. The company remains committed to disciplined execution, operational excellence and long-term value creation for its shareholders.

Having successfully navigated one of the most challenging periods for global shipping, Al Seer Marine has reinforced the resilience of its diversified business model. Its fleet, products and services remain essential to the energy, petrochemical and defence sectors, industries of strategic importance with enduring long-term demand across the region.

The post Al Seer Marine Delivers AED 89.2 Million Operating Profit with Around AED 579 Million in Total Revenue for the First Half of 2026 appeared first on American Eagle News.

Al Seer Marine and L3Harris Deepen Strategic Agreement to Advance Maritime Unmanned Systems in the Middle East

Naheel — Thu, 05 Feb 2026 05:08:00 +0000

Strategic agreement unites UAE shipbuilding leadership with world-class autonomous maritime systems expertise
Partnership accelerates development, integration, and deployment of advanced unmanned surface vessels across the UAE and the region
Reinforces Al Seer Marine’s role as a UAE leader in next-generation maritime defence and security solutions

Abu Dhabi, 5 February 2026: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, announced a strategic agreement with L3Harris Technologies (NYSE: LHX) to collaborate on next-generation maritime unmanned systems for defence, security, and government applications across the UAE and GCC region.

The agreement brings together Al Seer Marine’s shipbuilding, systems integration and lifecycle support capabilities with L3Harris’ globally recognised expertise in autonomous systems, mission control and maritime software, creating a powerful platform to deliver end-to-end unmanned surface vessel (USV) solutions. Under the agreement, Al Seer Marine will be leading platform design, construction, integration and through-life support, while L3Harris will provide advanced autonomy, control systems and network integration.

This collaboration directly supports the region’s accelerating demand for maritime autonomy, enabling scalable, interoperable and mission-ready unmanned fleets aligned with evolving defence and security requirements.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “This strategic partnership with L3Harris represents a significant milestone in Al Seer Marine’s journey to shape the future of maritime autonomy. By combining our shipbuilding and integration excellence with L3Harris’ world-class autonomous systems, we are creating a powerful offering that strengthens national capabilities, supports regional security priorities, and positions Al Seer Marine at the forefront of next-generation unmanned maritime solutions.”

The agreement is focused on supporting maritime unmanned surface vessel programmes, encompassing platform development, autonomous navigation and mission systems, command-and-control integration, training and long-term operational support. The partnership is designed to enable multi-vessel operations, common control architectures, and scalable deployment models, critical enablers for modern naval and coastguard operations.

For Al Seer Marine, the agreement further reinforces its strategic role as a UAE-based maritime leader capable of delivering sophisticated defence and security platforms, while advancing local industrial capabilities, knowledge transfer, and long-term value creation for shareholders and stakeholders.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About IHC

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 878.5 billion (USD 239 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,400 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

The post Al Seer Marine and L3Harris Deepen Strategic Agreement to Advance Maritime Unmanned Systems in the Middle East appeared first on American Eagle News.

Al Seer Marine 2025 Operational Profit Jumps 110% to AED 209 Million with Revenue Nearing AED 1.35 Billion

Naheel — Fri, 30 Jan 2026 07:50:24 +0000

Operational profit surged 110% to AED 209 million in 2025, with gross profit rising 14.57% to AED 164 million, reflecting fleet expansion and disciplined cost management.

Revenue increased 5.21% to AED 1.35 billion driven by long-term charter coverage and improved operational efficiency.

Abu Dhabi, 30/01/ 2026: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, today announces its financial results for the year 2025, delivering a strong performance marked by an 110%year-on-year increase in operational profit to AED 209 million, alongside a 5.21% rise in revenue to AED 1.35 billion.

The company also recorded a 14.57% increase in gross profit to AED 164 million. The results underscore the company’s disciplined capital restructuring strategy and enhanced asset utilization, which drove accelerated market expansion and strengthened operational fundamentals.

Non-current assets comprising the core revenue-generating fleet and infrastructure stood at AED 2.36 billion, preserving full operational capacity for sustained growth. In parallel, current assets were optimised to AED 5.67 billion through effective working capital management, which enabled the company to successfully reduce current liabilities by 57% to AED 732.8 million. Additionally, the company executed a major debt restructuring programme, extending liability maturities by increasing non-current liabilities to AED 3.17 billion from AED 2.25 billion, thereby securing favourable long-term financing terms and substantially reducing near-term repayment pressures.

Financial performance during the year was driven by fleet expansion, long-term charter coverage and improved fleet deployment, resulting in higher gross profit and a significant increase in operational profit, which included AED 102 million in gains from vessel sales. The company expanded its fleet to 11 ASM-owned vessels and seven held through joint ventures, following the completion of a three-year newbuild programme that delivered six state-of-the-art tankers. These modern vessels are secured under long-term charter contracts, providing stable and predictable cash flows.

Guy Neivens, CEO of Al Seer Marine, said: “The strong results in 2025 mark the point at which Al Seer Marine has begun to realise the rewards of planned execution over the years. Our goal has always been to build a global maritime powerhouse with diversified and future-proof business verticals from a next-generation commercial fleet and advanced naval and commercial shipbuilding capabilities to superyacht management services and cutting-edge technologies in unmanned surface vessels and large-scale 3D printing. The double-digit increase in operational profit reflects how our long-term vision is now delivering tangible value to our investors through discipline, foresight, and innovation.”

Gunther Alvarado, Deputy CEO of Al Seer Marine, said: “The cornerstone of our 2025 performance was the successful completion of our first phase of rapid expansion, reaching a milestone of 18 vessels in just three years. This aggressive scaling culminating in the delivery of our advanced dual-fuel VLGCs, has fundamentally strengthened our operational backbone. By swiftly diversifying our portfolio across key sectors, from gas carriers to product tankers, we have built a resilient, revenue-generating engine that is now delivering the substantial operational profit growth we are reporting today.”

The resilient performance of the company has earned the confidence of leading financial institutions, most recently demonstrated by an AED 760 million eight-year facility obtained from Abu Dhabi Commercial Bank (ADCB) in July 2025. Driven by this strong commercial and operational momentum, Al Seer Marine continues to solidify its market position. The company’s diversified business verticals provide robust foundations for growth across the maritime value chain, leveraging technological innovation and operational excellence to drive sustained profitability and long-term value for shareholders.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

The post Al Seer Marine 2025 Operational Profit Jumps 110% to AED 209 Million with Revenue Nearing AED 1.35 Billion appeared first on American Eagle News.

Al Seer Marine Expands Leadership Team with the appointment of Mark Hawkes as Chief Financial Officer

Naheel — Tue, 25 Nov 2025 08:56:45 +0000

Mark Hawkes is a senior executive with extensive expertise in operational leadership, financial management, M&A, and strategic planning.

Hawkes will be instrumental in reinforcing Al Seer Marine’s financial stability and supporting its vision of becoming a global maritime powerhouse.

Abu Dhabi, 25^th of November 2025: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, announced the appointment of Mark Hawkes as its new Chief Financial Officer (CFO) starting this month. Hawkes, a seasoned executive with extensive international experience, is assuming a pivotal role in driving the company’s ambitious global expansion and strategic financial roadmap.

Mark Hawkes brings over 25 years of financial and operational leadership across diverse industries, including logistics, investment, and petrochemicals, with a significant career focus in the UAE and wider Middle East. Notably, his background encompasses leadership in sophisticated financial instruments, including managing large-scale funding lines and spearheading major IT/ERP system implementations. This depth signals a strategic move to future-proof the company’s financial infrastructure.

Mark Hawkes will support in solidifying Al Seer Marine’s financial resilience and providing the robust fiscal framework required to realize its vision of becoming a global maritime powerhouse. His distinguished record in enterprise risk management, governance, and multi-currency financial structuring across diverse international jurisdictions perfectly complements the complexity of the company’s portfolio, which spans commercial shipping, yacht management, and advanced technologies like AI and 3D printing. This move clearly communicates that Al Seer Marine is intentionally strengthening its executive core for its next phase of industry leadership.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “Al Seer Marine is dedicated to pioneering the future of the maritime industry, driven by innovation, sustainability, and unparalleled operational efficiency. Mark Hawkes’ deep-seated expertise in global financial strategy, large-scale funding management, and driving operational efficiency makes him the perfect leader for our finance function. His track record of delivering measurable business results and fostering high-performing teams will be invaluable as we accelerate our transformation and reinforce our position as a global maritime powerhouse. We are delighted to welcome Mark to the leadership team.”

Mark Hawkes, Chief Financial Officer of Al Seer Marine, commented: “I am incredibly excited to join Al Seer Marine at such a dynamic phase of its journey. The company’s commitment to innovation, technology integration, and aggressive global growth is truly compelling. I look forward to applying my experience in operational excellence, strategic expansion, and robust financial structuring to ensure the company has the fiscal strength and optimized processes to execute its ambitious vision, deliver exceptional value to our shareholders, and solidify our leadership position in the global maritime industry.”

This strategic appointment comes as Al Seer Marine continues to execute its growth strategy, the addition of Mark Hawkes to the executive team is a clear commitment to leveraging top-tier talent to reach the company’s long-term vision of sustainable growth and industry leadership.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About IHC

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 878.5 billion (USD 239 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,400 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

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Al Seer Marine Achieves Fleet of 18 Vessels in Just Three Years, Completing First Stage of Rapid Expansion

Naheel — Thu, 13 Nov 2025 04:46:06 +0000

Al Seer Marine’s Commercial Shipping Division rapidly expands its total fleet to 18 vessels in only three years.

Al Seer Marine and BGN JV (ABGC DMCC) take delivery of the final two dual-fuel Very Large Gas Carriers (VLGCs), Megrez and Mizar.

The combined capacity of Megrez (86,925 CBM) and Mizar (88,000 CBM) completes the JV’s dual-fuel VLGC fleet of five vessels.

The strategic investment positions the JV at the forefront of the global energy transition in maritime transportation, ready to meet surging demand in the gas carrier segment.

Abu Dhabi, 12^th of November 2025: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, has completed the first stage of the expansion of its Commercial Shipping Division, marking a major milestone by reaching a total fleet of 18 vessels in just three years.

In partnership with BGN, one of the fastest-growing energy and commodities trading companies, Al Seer Marine has also completed its dual-fuel VLGC fleet program through their joint venture ABGC DMCC.

The delivery of the final two vessels from the 2023 order, Megrez and Mizar, on 31 October and 3 November 2025, respectively, brings the joint venture’s VLGC fleet to five vessels. This strategic achievement strengthens ABGC DMCC’s role in advancing cleaner and more efficient energy transportation.

This expansion reflects Al Seer Marine’s commitment to global leadership in maritime transport, accelerating revenue growth and reinforcing its position as one of the Middle East’s most diversified fleet owners.

Megrez (86,925 CBM) was built by Kawasaki Heavy Industries at its Sakaide Shipyard in Japan, while Mizar (88,000 CBM) was constructed by Hyundai Samho Heavy Industries in Mokpo, South Korea. Both vessels will be managed by Fleet Management Limited, Singapore, ensuring operational excellence aligned with international standards.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “The global LPG and LNG energy supply chain is undergoing a fundamental reshaping amid ongoing geopolitical and trade disruptions. This transformation is driving higher demand in the LGC and VLGC carrier segment, which is projected to grow through 2040. Our decision to invest early in a state-of-the-art VLGC fleet has proven both timely and strategically sound. The expansion to 18 vessels in just three years is a tremendous achievement and a testament to our ambitious vision. These new vessels reinforce our competitive edge, support sustained returns, and enhance shareholder value, building on our strong first-half 2025 results marked by double-digit revenue growth and solid profitability.”

The final two vessels in the program bring ABGC DMCC’s VLGC fleet to five vessels, each equipped with dual-fuel capabilities. Megrez is designed to carry both LPG and ammonia (NH₃) cargoes, enhancing the fleet’s operational flexibility and efficiency.

Ozan Turgut, Director of Shipping at BGN, commented: “We are extremely pleased to take delivery of two new vessels in BGN’s growing fleet. This comes only months after our last vessel, the Merak set sail on its maiden voyage delivering essential energy for our global customers. These state-of-the-art gas carriers, continue to set new standards in technical excellence and regulatory compliance. With dual-fuel systems capable of operating on both traditional and cleaner fuels, as well as ammonia-carrying capabilities, they are built to meet today’s stringent sustainability standards. At the same time, they are technologically equipped to meet the growing demand for cleaner fuels. This future-proofing ensures long-term commercial viability and again demonstrates BGN’s commitment to growing our business, while also decarbonizing our industry.’

The delivery of Megrez and Mizar brings Al Seer Marine’s total fleet to 18 vessels, spanning multiple segments including LPG carriers, VLGCs, VLCCs, MR tankers, bulk carriers, and product tankers. This diversified portfolio, managed through direct ownership and strategic joint ventures, delivers sustainable value to investors across key energy-transportation sectors.

-ENDS-

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Al Seer Marine and BGN JV Announces Delivery of Third VLGC Merak

Naheel — Thu, 18 Sep 2025 14:24:16 +0000

Delivery of Merak, a third Very Large Gas Carrier (VLGC), by Hyundai Samho Heavy Industries

Maiden voyage underway to the U.S. Gulf to load propane and butane

Al Seer Marine fleet now totals 16 vessels, with two additional VLGCs under construction

Abu Dhabi, Thursday 18^th of September 2025: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, has announced with BGN the successful delivery of Merak, its third Very Large Gas Carrier (VLGC) equipped with ammonia-carrying capability.

The vessel was delivered through their joint venture, ABGC DMCC, underscoring the strong collaboration between the two partners in advancing maritime solutions and expanding dual-fuel fleet capacity.

Delivered on 14 August 2025 by Hyundai Samho Heavy Industries (HSHI) in South Korea, with a capacity of 86,423 CBM, the vessel further establishes Al Seer Marine’s leadership in the global shipping industry. A syndicated sharia-compliant facility, led by the Abu Dhabi Islamic Bank (ADIB), was used to finance the purchase of the Merak and two additional VLGCs.

Managed by Fleet Management Singapore, Merak has begun her first voyage to the US Gulf to load her initial shipment of propane and butane. Following the delivery of Merak, ABGC DMCC now anticipates the arrival of the two carriers currently under construction from its order placed in 2023: a VLGC from South Korea’s Hyundai Samho Heavy Industries, expected in November 2025, and an LPG/NH3 carrier from Japan’s Kawasaki Heavy Industries, scheduled for delivery in October 2025.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “From the outset, we recognised the significant role of alternative fuel shipping in the transition of the global energy supply. Driven by this insight, we have shaped our strategy around fleet and cargo diversification to meet evolving market demands. This well-founded approach is reflected in the strong financial results for the first half of 2025, with a 20.2% increase in operational revenues and an 81.7% rise in gross profit. With the recent delivery of Merak, we reinforce our position at the forefront of holistic maritime solutions.”

Rüya Bayegan, BGN group CEO, commented: “We are pleased to be taking delivery of Merak, and the third in our strategic partnership with Al Seer Marine. This state-of-the-art vessel adds to our growing fleet of dual-fuel gas carriers capable of operating on both traditional fuels and lower emissions alternatives and underlines our commitment to contributing to industry-wide decarbonization efforts. With its advanced capabilities, the Merak also supports BGN’s strategic ambitions as we build on our success in the LPG market and scale our operations to expand into ammonia trading, which has always been a key objective in our growth plans.”

With the addition of Merak, Al Seer Marine currently operates a diverse fleet of 16 vessels, through direct ownership and joint ventures, spanning LPG carriers, crude and product tankers, Very Large Crude Carriers (VLCCs), Medium Range (MR) tankers, bulk carriers, and VLGCs. This extensive fleet provides comprehensive coverage across key energy markets and underpins sustainable revenues and strong returns for investors.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About BGN

BGN is a growing, partnership-based international trading business that covers multiple energy products, transition bridge fuels, including LPG (liquefied petroleum gas), and other commodities.

Building on an 80-year heritage, BGN has evolved from a regional company into a formidable global business with operations that span 120 countries. It moves towards 50 million tons of commodities annually for a double-digit billion-dollar turnover.

The company has offices in Geneva, the world’s commodity trading capital, Dubai, Casablanca, Doha, Houston, Rotterdam, and Singapore. Worldwide, BGN companies employ close to 750 people at 22 locations.

www.bgn-int.com

About IHC

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

The post Al Seer Marine and BGN JV Announces Delivery of Third VLGC Merak appeared first on American Eagle News.

Al Seer Marine Unveils AI Transformation Strategy with Deployment of AI Observer NOVA

Naheel — Fri, 22 Aug 2025 12:28:10 +0000

Al Seer Marine’s AI strategy to accelerate automation, enhance efficiency, shipbuilding, fleet management.

The launch of NOVA marks the maritime sector’s first AI-powered, non-voting Board Observer.

Key features include live boardroom queries, predictive scenario modelling, and automated oversight across all subsidiaries and joint ventures.

Abu Dhabi, Friday, 22 Aug 2025: Al Seer Marine (ADX:ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, has announced the roll-out of its comprehensive AI transformation strategy. This initiative positions AI at the core of the company’s next growth chapter, introducing smarter systems to advance automation in shipbuilding, unmanned surface vessels (USVs), fleet management, logistics, and operational efficiency.

In parallel, Al Seer Marine has also become the first UAE maritime entity to deploy an AI-powered, non-voting Board Observer named NOVA (Neural Oversight & Virtual Automation). NOVA strengthens governance by enabling live boardroom queries, scenario modelling, budgeting support, and automated oversight of subsidiaries and joint ventures.

Developed by Aleria, NOVA transforms fragmented financial, operational, and market data into real-time strategic insight. It leverages AI to continuously learn, flag anomalies, and generate predictive insights, empowering the Board with intelligent oversight that enhances vessel readiness and operational safety.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “AI is becoming foundational to Al Seer Marine’s operational DNA. From fleet management and shipbuilding to USVs and advanced manufacturing, we are integrating AI across every facet of our operations. The power of AI enables us to maximise efficiency, improve safety, and elevate performance across all areas of our business. The launch of NOVA represents the next step in this journey, turning data into real-time intelligence that strengthens both our day-to-day operations and our long-term competitiveness.”

As a non-voting observer, NOVA enhances board engagement through live queries, scenario modelling, and predictive analysis. It synthesises structured and unstructured data across ERP systems, spreadsheets, documents, databases, and live market feeds into insights that support faster and smarter decisions.

Eric Leandri, CEO of Aleria, said:“With the deployment of Al Seer Marine’s NOVA AI Observer powered by Aleria, we continue our commitment to practical AI solutions that enhance efficiency, and strategic decision-making. By leveraging real-time data and predictive insights, NOVA ensures Al Seer Marine’s leadership can address challenges and opportunities with greater precision and speed. This deployment is a crucial part of our strategy to drive AI integration across various sectors in the UAE market.”

The rollout of NOVA builds on IHC’s pioneering success with Aiden Insight, launched in 2024 and evolved in 2025 into the UAE’s first sovereign, on-premise AI Board Observer. NOVA inherits that foundation and applies it within the maritime domain, offering board-level visibility into capital structure, predictive fleet performance, supply chain intelligence, and regulatory alignment.

NOVA’s deployment at Al Seer Marine represents more than a technical upgrade – it marks the beginning of a larger transformation. This futuristic system will optimise commercial fleet management and asset utilisation and reduce operational costs, while streamlining shipbuilding projects and mitigating supply chain risks. The AI system will help introduce innovative customer experiences to enhance yacht management services and elevate USV manufacturing and 3D printing to maintain the company’s leading position through continuous adoption of latest technologies.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About Aleria

Aleria is an AI and Big Data company headquartered in the United Arab Emirates, dedicated to advancing technological sovereignty and innovation. Developed in Abu Dhabi, Aleria delivers sovereign enterprise solutions to government and private sector organizations. Aleria provides secure, proprietary technologies including real-time analytics, workflow automation, and board-level decision intelligence, ensuring full data privacy within national borders. Aleria’s capabilities offer a comprehensive suite of applications, including integrated data management, meeting recording and summarization, real-time collaboration, and a centralised event feed. Their solutions empower organizations to leverage AI in their workflows while maintaining full control over their data. Available both on the cloud and on-premise, Aleria ensures flexibility and scalability to meet the diverse needs of their clients.

https://aleria.com

About IHC

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 881.6 billion (USD 239.9 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

The post Al Seer Marine Unveils AI Transformation Strategy with Deployment of AI Observer NOVA appeared first on American Eagle News.

Al Seer Marine Reports Increase in Operating Profit to AED 156 Million with AED 698 Million in Revenue for the First Half of 2025

Naheel — Tue, 29 Jul 2025 17:37:02 +0000

Revenue rises 20.2% year-on-year, supported by enhanced asset utilisation.

Gross profit climbs 81.7% to AED 89 million, with gross margin expanding from 8.4% to 12.7%.

Cash balance grows 178% to AED 490 million, driven by stronger collections.

Total assets rise 7.6% to AED 8.1 billion, whilst total borrowings decrease by 16%.

Abu Dhabi, Monday 29^th of July 2025: Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, announces its financial results for the first half of 2025. The company posts revenue of AED 698 million, marking a 20.2% increase compared to the same period last year.

Operating profit grows year-on-year to AED 156 million from AED 13 million backed by strong business performance. Gross profit surges 81.7% year-on-year, rising from AED 49 million to AED 89 million, with margins expanding from 8.4% to 12.7%. This improvement is supported by strong revenue growth and enhanced asset utilisation, primarily due to the expansion of fleet operations with the addition of 6 MR chemical Tankers.

The company’s cash balance increases by 179%, reaching AED 490 million, up from AED 176 million in the first half of 2024, supported by improved collections and robust operating cash flows. Total assets rise 7.6% to AED 8.1 billion.

Guy Neivens, Chief Executive Officer of Al Seer Marine, said: “Built on the ‘Investor First’ mindset, our strategy centres on smart capital restructuring, supported by the company’s robust assets, to drive portfolio expansion under highly competitive financing terms. We have also accelerated growth through strategic joint ventures with global industry leaders, while maintaining a strong commitment to disruptive technologies and innovation. This multi-faceted, future-proof approach has delivered consistent revenue growth, rapid expansion, and improved profitability.”

Key to the company’s capital restructuring and improved liquidity were financing agreements secured with leading international and regional financial institutions, totalling AED 1.815 billion.

On the growth front, the joint venture between Al Seer Marine and Damen International secured an AED 1.3 billion contract in March 2025 from the Tawazun Council to build offshore patrol vessels for the UAE Navy. Furthermore, ASBI Shipping FZCO — a joint venture with B International Shipping & Logistics — signed a ten-year charter for two LPG tankers, Alkaid and Alcor, locking in AED 660 million in revenues through 2035. These collaborations exemplify a capital-efficient model and support sustainable expansion.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About IHC

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

The post Al Seer Marine Reports Increase in Operating Profit to AED 156 Million with AED 698 Million in Revenue for the First Half of 2025 appeared first on American Eagle News.

Al Seer Marine Secures AED 760 million from ADCB to Accelerate Portfolio Expansion

Naheel — Wed, 09 Jul 2025 04:57:00 +0000

The facility strengthens capital structure to support diversified fleet growth and strategic investments

The eight-year loan is secured by first-priority mortgages on selected operating vessels.

Abu Dhabi, Wednesday 9^th July 2025: Al Seer Marine (ADX: ASM), a frontrunner in the maritime industry and a subsidiary of IHC (ADX: IHC), has secured AED 760 million ($207 million) financing facility from Abu Dhabi Commercial Bank PJSC (ADCB). The eight-year facility is secured through first-priority mortgages over a selected group of operating vessels, reinforcing the company’s capital efficiency and asset-backed growth strategy.

ADCB, acting as sole underwriter and Mandated Lead Arranger, extended the facility on highly competitive terms—marking the second major transaction between the two organisations. In early 2025, ADCB provided an AED 210 million ($57 million) facility to ASBI Shipping FZCO, the joint venture between Al Seer Marine and B Shipping, to support the acquisition of small and midsize LPG tankers.

“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,” said Guy Neivens, Chief Executive Officer of Al Seer Marine.

Al Seer Marine has steadily earned the confidence of top-tier financial institutions, securing support from local leaders such as Abu Dhabi Islamic Bank (ADIB) and First Abu Dhabi Bank (FAB), while forging strategic ties with global players like BOCOM Leasing—China’s foremost maritime financier.

The company has leveraged this financial backing to develop a resilient, future-ready fleet while advancing strategic investments across multiple sectors, including naval shipbuilding, autonomous Unmanned Surface Vehicle (USV), the world’s largest 3D printer, and more.

-ENDS-

About Al Seer Marine (ASM)

Al Seer Marine (ADX: ASM), a subsidiary of International Holding Company (IHC), is a global maritime organisation headquartered in Abu Dhabi. Our extensive service portfolio encompasses commercial shipping, yachting, boat building, large-scale 3D printing, unmanned vessel platforms and capabilities, and cutting-edge technological innovations. We seamlessly integrate top-tier services, innovative technological solutions, and a proven track record of operational excellence.

Whether it’s operating a fleet of superyachts with luxurious precision, owning & operating a fleet of commercial vessels, employing innovative additive manufacturing processes, or engineering futuristic unmanned vessels, Al Seer Marine stands as a beacon of expertise, capability, and excellence, capable of transforming any maritime vision into a reality.

Our comprehensive service approach ensures a seamless journey from conception to realization, leveraging the latest in commercial ship and yacht management innovations. Our dedicated boat building team not only excels in additive design techniques and precision builds but also offers extensive training and expert maintenance, ensuring the longevity and performance of our creations.

www.alseermarine.com

About International Holding Company (IHC)

Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world’s largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC’s commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more.

IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.

At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.

www.ihcuae.com

Media Contacts

Liliana Escobar Al Seer Marine Marketing & Communication Manager M: +971 54 299 4804 Liliana@alseermarine.com Abdelghani Abughazaleh Tactics Marketing Management Director M: +971 50 559 2290 gani@tactics.ae Reem Al-Lamadani Al Seer Marine Investor Relations Officer M: +971 50 983 4603 reem@alseermarine.com

The post Al Seer Marine Secures AED 760 million from ADCB to Accelerate Portfolio Expansion appeared first on American Eagle News.

THIS FATHER’S DAY, DADS DITCH THE USUAL PICKS FOR LEGO® BUILDING BRICKS!

Saif AG — Sat, 14 Jun 2025 14:10:52 +0000

Transform everyday gifts into memorable keepsakes, whether it’s a mug made of LEGO(r) bricks or a fully bricked bottle of aftershave, this year, build it with him.

June 13, 2025 – Dubai, United Arab Emirates: This Father’s Day, June 21^st, the LEGO Group is on a mission to rescue dads across the nation by putting an end to the same-old gifts. Following the spirit of World Play Day on June 11, which celebrates the joy of play, the LEGO Group encourages families to break away from the mundane and reimagine clichéd gifts with the magic of LEGO bricks.

A YouGov survey, commissioned by the LEGO Group, revealed the top ten most common Father’s Day gifts for dads in the UAE. With insights from over 1,000 respondents, the survey confirmed that classic gifts still dominate the scene, with 62% of dads receiving a shirt, 49% a wallet and 27% a mug. Moreover, the survey found that 75% of UAE dads have received the same present from their children multiple times —exactly where the LEGO Group comes into play, inspiring families to add a fresh twist to those cherished gift-giving moments.

This year, the LEGO Group is calling on both kids and adults to defy tradition by adding creativity to their celebrations. By reviving the joy of handmade gifting, families can transform clichéd gifts into exciting LEGO sets, offering meaningful opportunities for dads and their children to build, bond and share together.

The YouGov survey also revealed the heart of Father’s Day for many UAE dads—celebrating shared experiences. When asked what makes the day feel most special, 22% said it’s when the family creates or builds something together, 20% cherish crafting alongside their kids, and another 20% appreciate uninterrupted time doing what they both enjoy.

Whether it’s reimagining socks or mugs as LEGO masterpieces, every LEGO brick-built gift becomes a playful experience, creating exciting gifts and lasting memories. This Father’s Day, skip the unexpected and craft cherished moments together. #BuildItWithHim

END

About the LEGO Group
The LEGO Group’s mission is to inspire and develop the builders of tomorrow through the power of play. The LEGO System in Play, with its foundation in LEGO bricks, allows children and fans to build and rebuild anything they can imagine.

The LEGO Group was founded in Billund, Denmark in 1932 by Ole Kirk Kristiansen, its name derived from the two Danish words LEg GOdt, which mean “Play Well”. Today, the LEGO Group remains a family-owned company headquartered in Billund. However, its products are now sold in more than 120 countries worldwide.

For more news from the LEGO Group, information about our financial performance and responsibility engagement, please visit www.LEGO.com/aboutus.

Research Methodology

YouGov’s survey conducted on behalf of LEGO Group was undertaken by 1,006 respondents from 7th to 14th of May 2025. The respondents are all fathers living in UAE and have received a gift for Father’s Day. The survey was conducted online and was carried out using a structured quantitative questionnaire and was administered in Arabic or English as per the respondent’s preference.

About YouGov

YouGov is a global research data and analytics group. Our mission is to offer unparalleled insight into what the world really thinks and does. With operations in the US, the Americas, Europe, the Middle East, India and Asia Pacific, we have one of the world’s largest research networks.

The post THIS FATHER’S DAY, DADS DITCH THE USUAL PICKS FOR LEGO® BUILDING BRICKS! appeared first on American Eagle News.