Besides strong global oil and petrochemicals flows, the results reflect the company's strategy balancing of long-term and med-term charters with key clients.
The total asset value of the company stood at Dh2.865 billion on June 30, 2008 whereas shareholder's equity was Dh1.770 billion. Its earning per share as on June 30, 2008 was recorded at Dh0.056.
Engineer Abdullah Al Shuraim, Chairman of Gulf Navigation Holding PJSC said: "In these times of all round growth, we have decided to consolidate our fleet deployment and we are watching the market very closely to grow our fleet through new building and purchase of new tankers and acquisition of companies with fleet in our line of business at the right time and are moving towards a higher percentage of long and med term charters.
Eng Al Shuraim added we strive to maintain the confidence level of our investors, including the new international investors who have benefitted from our board's and EAGM decision to allow 20 per cent foreign shareholding.
The study takes into account premium office rents of Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM)
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