Al Seer Marine, a subsidiary of International Holding Company (IHC), has released its financial results for 2024, indicating a notable operational growth amid recovering market conditions. The company reported a total revenue of AED 1.281 billion, reflecting a 4.0 percent increase from the previous year. This growth was attributed to diversification across several key sectors, including the launch of operations for four new MR tankers in the Commercial Sector and an increase in demand for yacht management services in the Yachting Sector.

Moreover, Al Seer Marine established new maintenance and technical support contracts in the innovation, defense, and technology sectors. The company also achieved a gross profit of AED 153 million in 2024, marking a 6.2 percent rise, which was driven by effective efficiency and optimization measures. As of the end of 2024, Al Seer Marine’s total assets were approximately AED 8.4 billion.

Guy Neivens, CEO of Al Seer Marine, emphasized the company’s commitment to enhancing operational capabilities and maintaining its status as a maritime powerhouse. He stated that the company’s focus in 2024 was on expanding its fleet with advanced, future-proof tankers and enhancing shipbuilding capabilities through Dune, a joint venture with Damen International, aimed at constructing both naval and commercial vessels.

In addition, Neivens highlighted that Al Seer Marine’s innovative edge is further strengthened by its state-of-the-art unmanned surface vessel (USV) solutions and the world’s largest advanced 3D printing facility located at its headquarters, positioning the company as a leader in maritime innovation.