Abu Dhabi – Al Seer Marine (ASM), a subsidiary of IHC, together with BGN, via their joint venture ABGC DMCC, has taken delivery of the Merak, their third Very Large Gas Carrier (VLGC) equipped with ammonia-carrying capability. The delivery was completed on 14 August 2025 by Hyundai Samho Heavy Industries (HSHI) in South Korea. Mubasher Info+2Baird Maritime / Work Boat World+2
Merak has a capacity of 86,423 CBM and is managed by Fleet Management Singapore. It has already embarked on its maiden voyage to the U.S. Gulf to load its first cargo of propane and butane. Mubasher Info+2Baird Maritime / Work Boat World+2
The ship was financed through a syndicated Sharia-compliant facility led by Abu Dhabi Islamic Bank (ADIB), which also covers two additional VLGCs currently under construction. Mubasher Info+1
The JV anticipates the arrival of two more carriers from its 2023 orderbook: one VLGC from HSHI expected in November 2025, and another LPG/ammonia capable vessel from Kawasaki Heavy Industries, Japan, slated for October 2025. Big News Network+1
Al Seer Marine’s CEO, Guy Neivens, stated, “Driven by this insight, we have shaped our strategy around fleet and cargo diversification to meet evolving market demands.” BGN’s CEO, Rüya Bayegan, added that the “Merak” supports BGN’s ambition to scale into ammonia trading, a major component of its growth plans. Mubasher Info+1
With this delivery, Al Seer Marine now operates a fleet of 16 vessels across its direct operations and joint ventures. The company also reported a 20.2% increase in revenues and an 81.7% rise in gross profit in the first half of 2025. Big News Network+1
Conclusion:
The addition of Merak underscores the JV’s growing commitment to cleaner, dual-fuel capable gas carriers, and positions ABGC DMCC as a key player in the LPG and ammonia shipping markets. With the two upcoming VLGCs, the fleet’s expansion is well under way.