Gulf Navigation Holding PJSC announced that it expects to receive AED 220 million in funding

Gulf Navigation Holding PJSC is a United Arab Emirates-based public shareholding company engaged, together with its subsidiaries, in marine transportation of commodities, chartering vessels, ship agency, marine transport under special passenger and merchant contracts, clearing and forwarding, container loading and unloading, and container discharging and packaging services. The Company is organized into four business segments: the Vessel owning & chartering segment is engaged in chartering of vessels to customers; the Commercial segment is involved in trading of goods, such as supplies, chemicals and gases required for ships; the Agency segment provides agency services to ships calling at ports, and the Other segment includes management of all divisions and administrative activities. As of February 17, 2014, the Company completed sale of two very large crude carriers (VLCC's) Gulf Sheba and Gulf Eyadah to DHT Holding Inc.