Al Seer Marine gets $207m funding from ADCB
ABU DHABI, 21 days ago
Al Seer Marine (ASM), a subsidiary of IHC, has secured AED760 million ($207 million) financing facility from Abu Dhabi Commercial Bank (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 AED210 million ($57 million) facility to ASBI Shipping, 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," remarked Guy Neivens, Chief Executive Officer of Al Seer Marine.
"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," he stated.
Al Seer Marine said it has steadily earned the confidence of top-tier financial institutions, securing support from local leaders.
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, it added.-TradeArabia News Service
