Dubai-based independent chemical/tanker company Gulf Energy Maritime (GEM) has placed an order for two new ships.
According to Trade Winds, GEM has ordered two 50,000 dwt MR product tankers from HD Hyundai Mipo, which are expected to be delivered in 2026. The value of the order has not yet been announced, but shipbrokers believe that each unit will be priced at least $50 million, which puts the total order for the 2 new shipbuildings at $100 million.
According to the GEM website, the two new vessels are named “Gem Daniela” and “Gem Delilah”.
Formed in 2004 as a Joint Venture shipping company, GEM is managing modern state-of-the-art double hull tankers designed to carry petroleum products, chemicals and other hydrocarbons.
GEM currently has a fleet of 8 Trading ships, which comprises of 1 modern LR1 and 7 chemical/product tankers, including one LR1 product tanker and seven chemical/product tankers, with a further six newbuildings to be delivered in 2025 (four) and 2026 (two).
All 14 vessels have been delivered or are under construction by HD Hyundai Maipo, and the other four new vessels are named Gem Ruby, Gem Sapphire, Gem Emerald and Gem Diamond.