Al Seer Marine, a subsidiary of International Holding Company (IHC), is expanding to provide freight solutions for bulk cargoes globally through its subsidiary, ASM Chartering.
This subsidiary will focus on delivering effective and efficient freight services for cargo interests internationally, focused on the Middle East market, Al Seer said.
As part of ASM’s worldwide growth strategy on commercial management, ASM Chartering intends to transport approximately 2-3 million tons of bulk cargoes in 2022. At present, ASM manages a total of five dry bulk and general cargo ships and provided freight solutions to an international mining group for approximately 850,000 metric tons of iron ore from Asia Pacific to East Asia. Al Seer Marine is currently in negotiations for a long-term contract for carriage of 2 million tons annually.
Guy Neivens, Chief Executive Officer of Al Seer Marine, said, “We have seen a global rise in demand for dry bulk ton-mile trade with 2021 recording a 3.7 percent increase, while this year, continued growth is forecast at about 1.4 percent. Al Seer Marine will capitalize on this trend and increase our capacity, transporting about 2-3 million tons of bulk cargoes in 2022. Given the fragmented nature of this market, we are seizing the opportunity to consolidate cargo volumes and plan to establish a world-class and transparent commercial maritime business through strategic partnerships across the Middle East region.”
The company aims to increase its fleet to become the largest in the MEA market and is analyzing expansion initiatives in product tankers, gas tankers, and dry bulk shipping sectors, with short-term plans of acquiring 10 to 15 ships in 2022.