Dubai’s Shuaa Capital is aiming to expand the world’s fourth-biggest offshore support vessel fleet in a new $300m financing deal.
The asset manager has secured the cash over seven years from National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF), formerly known as Apicorp, to drive growth at its shipowning subsidiaries Stanford Marine and Allianz Marine Services.
The deal will provide a single facility for both Dubai operators, optimising the financial structure, Shuaa said.
