GulfNav Appoints Kristiansen as New CEO

    DUBAI, United Arab Emirates, Jan. 12 /CNW/ - Gulf Navigation Holding PJSC
(DFM: GULFNAV), the regional's leader in maritime and shipping services has
recently announced the appointment of Mr. Per Wistoft Kristiansen as Chief
Executive Officer. Per will lead the company's expansionary mission of growth.
    With 29 years of experience across Europe, Asia and the United States,
Per brings to Gulf Navigation rich expertise in the field of shipping and
maritime services.
    Per is an accomplished shipping professional with broad leadership
experience. He worked as managing director at TRANSPETROL Belgium and
previously headed the port of ESBJERG in Denmark, moreover he served the
world's maritime and shipping companies of repute such as D/S NORDEN A/S, TORO
ENERGY SAM, A.P MOLLER GROUP amongst others. Per holds an MBA from
Scandinavian International Institute Copenhagen and speaks seven languages.
    Commenting on the appointment, Engineer Abdullah Al Shuraim, Chairman,
Gulf Navigation Holding PJSC, said: "I am delighted that Per has joined Gulf
Navigation; his background in Maritime and Shipping will be invaluable. Per is
a creative, innovative and highly professional and has a wealth of experience.
Having Per with us affirms that we are a best in class team and that we are
committed to delivering a solid performance, superior financial results and
impressive growth across all maritime business areas. Indeed, we have
appointed a CEO whose personal qualities and experience reflect the values of
our fundamentals and business and we are confident that his leadership will
give the company the best"
    Commenting on his appointment, Per said: "I am extremely pleased to join
Gulf Navigation holding PJSC at a time when it is experiencing remarkable
growth. In a challenging and fast growing market for shipping, Gulf Navigation
has achieved tremendous momentum in a very short span of time. In my new role,
I look forward to ensuring that Gulf Navigation maintains its attractive
returns for shareholders by securing the promising opportunities the region
    Per will officially assume his duties on February 1st 2009.

    Gulf Navigation holding PJSC group companies and divisions own and
operate crude, clean petroleum product and chemical tankers, Gulf Navigation
Holding is an ISO 9001:2000 certified Dubai-based company and a leading
shipping and marine services company in the region. It is a United Arab
Emirates holding entity with operations worldwide and 11 specialised
subsidiaries. The company owns 19 tankers and charters VLCCs, Chemical and
Product Tankers. It is also the sole agency for a large number of global
marine manufacturers and the only company listed on the Dubai financial market
as a maritime and shipping company.

    For more information, please visit or
    contact Basem Barry on +971-4-4270104 or e-mail

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For further information: please contact Basem Barry on +971-4-4270104 or

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