Gulf Navigation of Dubai has bought out its partner in maritime agency services specialist Gulf Navigation Polimar Maritime.
GulFnav has acquired a 40% stake from Turkish Polimar Holding Company for an undisclosed sum as it seeks “to increase revenues by expanding the scope of agency business in line with the company’s strategy for the coming years and focusing on providing a portfolio of integrated logistics solutions”.
Gulf Navigation Polimar Maritime was set up in 2017 and is headquartered in Dubai, with offices in Khorfakan and Fujairah. It provides services to all terminals and commercial ports in the UAE and handles all types of vessels and cargo.
The company handles agency services, ship services and marine products and also manages GulFnav’s four offshore support vessels.
