Dubai: Gulf Navigation Holding said on Tuesday it has agreed to clear a long standing debt with Nordic American Tankers (NAT), and hopes to reach settlement with other creditors soon.
The new management of GulfNav have been and are working intensively to clear all historical liabilities and backlog in order to give the company a new leash of life whereby new horizons of maritime and shipping business can be explored on a more positive footing, the company said in an emailed statement.
This settlement and clearing of liability with NAT is expected to improve investor confidence and widen market interest.
“... the past and legacy issues will be resolved and the company will be on a solid ground to navigate the future with full commitment to its shareholders, the market and the industry at large,” Khamis Juma Bu Amim, board member, managing director and Group CEO, said in a statement.
The company is equipped with all the means and enablers in order to take a stronger market position by providing quality and cost effective services — not only in the chemical tankers business but also in other shipping business segments, the statement added.
