Do not write off Dubai and its shipping companies just yet, despite the well-publicised debt problems of the past year.

That is the message from Gulf Energy Maritime (GEM), the young and ambitious regional oil-company-controlled products-tanker owner.

Having completed its first five-year growth phase to become a 17-ship company - with two more to come in early 2012 - it is now finalising plans to take another stride forward.

"We