GEM gets new tanker

Dubai-based Gulf Energy Maritime has received the third of its order for four tankers from Korea-based Hyundai Heavy Industries, giving the company a fleet of five ships. The high-specification panamax double-hulled vessel will go into service with charter company Glencore under a three-year deal. GEM is looking to build a fleet of eleven vessels by October 2007, according to GM Hussain Sultan.