ABU DHABI: Al Seer Marine, a leading entity in the maritime sector and a subsidiary of International Holding Company (IHC), has successfully obtained a financing deal worth US$80 million from BOCOM Financial Leasing Co., Ltd (BOCOM Leasing) for its MR tankers, Betelgeuse and Bellatrix. This marks the company's first venture into securing funds for its shipping fleet from sources outside the UAE, targeting expansion and sustainability in its operations. According to Emirates News Agency, these two newly delivered tankers, each with a deadweight of 49,757 MT, are designed as IMO II/III oil and chemical tankers capable of carrying six fully segregated grades of cargo. They are built ready for alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol, aligning with the latest environmental standards. The vessels have already been fixed on five-year time charters to Reliance International DMCC, reflecting strong market confidence and future revenue potential. Guy Neivens, CEO of Al Seer Marine , expressed that the financing from BOCOM Leasing is a crucial part of their strategy to diversify funding sources and enhance the fleet's capabilities with robust financial backing from both local and international entities. He emphasized the transaction as a testament to Al Seer Marine's solid financial performance and its appeal to global investors like BOCOM. Neivens also highlighted the company's readiness to capitalize on the increasing global demand for LNG and petrochemicals as the world progresses towards more sustainable energy solutions. WU Jiajun, Deputy CEO of BOCOM Financial Leasing Co., Ltd, remarked on the high standards BOCOM maintains in selecting investment projects and expressed enthusiasm about the new collaboration with Al Seer Marine. He sees this partnership as the beginning of a strong and mutually beneficial relationship, driven by shared commitments to innovation and sustainability in the maritime industry. This collaboration not only underscores Al Seer Marine's significant role in the UAE's maritime sector but also boosts the UAE's strategy to position itself as a global hub for commercial shipping. The deal is poised to attract more global investment into the UAE, reinforcing its status as a leading player in the international maritime arena.