Al Seer Marine secures Dh760 million ADCB facility to finance its expansion plans
ABU DHABI (ALETIHAD)Al Seer Marine Supplies & Equipment Company, a leading player in the maritime sector and a subsidiary of International Holding Company (IHC), has secured a Dh760 million ($207 million) financing facility from Abu Dhabi Commercial Bank (ADCB) to support the next phase of its growth strategy.The eight-year facility is backed by first-priority mortgages on selected operating vessels and marks the second major transaction between ADCB and Al Seer Marine. In early 2025, ADCB extended a Dh210 million ($57 million) facility to ASBI Shipping FZCO — a joint venture between Al Seer Marine and B Shipping — to fund acquisitions of small and midsize LPG tankers.Commenting on the development, Guy Neivens, CEO of Al Seer Marine, said, 'We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. ADCB's continued partnership reflects deep institutional trust in our long-term strategy.'The company said the funding will reinforce capital efficiency and enable asset-backed expansion across LNG, LPG, crude oil, and petrochemical shipping segments. Al Seer Marine continues to attract the confidence of both local and global institutions, having previously secured support from Abu Dhabi Islamic Bank (ADIB), First Abu Dhabi Bank (FAB), and China's BOCOM Leasing.Leveraging this financial backing, Al Seer Marine is also driving strategic investments in areas such as naval shipbuilding, autonomous Unmanned Surface Vehicles (USVs), and advanced manufacturing, including the world's largest 3D printer.
The company positions itself as a future-ready maritime leader with capabilities spanning commercial shipping, yacht operations, and high-tech marine innovation. It is an ADX-listed company with a market capitalisation of Dh3.94 billion.
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