Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) said that it plans to enter into shipbuilding contracts on October 25 through its subsidiary GNH Maritime Ship Management & Operations LLC.

Namely, the company informed that the contracts will be signed with China Shipbuilding & Offshore International and Wuchang Shipbuilding Industry Group.

GulfNav did not reveal any further details related to the shipbuilding contracts.

In April 2016, the company said that it was planning to add new tonnage to its fleet of product and chemical tankers and reinforce its shipping services business.

Under the fleet growth plan, GulfNav said that it was setting sights on new projects and activities in offshore support services, increasing shipping services and marine product sales and distribution through expansion of shipping services network within the Arabian Gulf and Gulf of Oman.

The plans also include engaging in trip time charters by working and trading vessels on spot hire; acquiring vessels on bare boat with purchase option; purchasing work boats for offshore projects; and building global network with business stakeholders and third-party owned vessel management under the Gulf Stolt Ship Management (GSSM) umbrella.