DUBAI, July 23 -- Gulf Navigation Holding PJSC (DFM: GULFNAV) the regional
leader in Maritime and Shipping Services has announced the appointment of Mr.
Khalid Karim to the position of Chief Financial Officer

Khalid brings to Gulf Navigation over 30 years of tremendous depth of
experience in major oil gas and shipping companies in senior finance roles. He
joins the company as it enters a new phase in its substantial expansionary plan
where he will assist the company in its continuing growth strategy.

A chartered accountant and Fellow of the Institute of Chartered Accountants in
England Wales- Khalid held the post of Group CFO at Emirates National Oil
Company (ENOC) where he for over the last 10 years was directly involved in
ENOC’s shipping companies. He previously worked as chief internal auditor
at Abu Dhabi National Oil Company (ADNOC), and as finance manger of Petromin
Shell Refinery Company.

Commenting on the appointment, Per Wistoft, CEO, Gulf Navigation Holding PJSC,
said: We are very pleased to see Mr. Khalid Karim joining our company. His
quality and experience will help us in the continued process of producing
sustainable growth and creating shareholder value. He will additionally
strengthen our management team and add value in optimizing our processes.

Gulf Navigation Holding PJSC and its group companies own and operate crude,
clean petroleum product and chemical tankers. It is an ISO 9001:2000 certified,
Dubai-based and Untied Arab emirates Holding Entity with operations worldwide.
It leads the shipping and marine services industry in the region. It has 11
specialized subsidiaries and owns 19 tankers and charters VLCC, Suezmax,
Chemical, Product Tankers and crew boats. It is also the sole agency for a large
number of global marine manufacturers and the only maritime and shipping company
listed on the Dubai Financial Market.

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

SOURCE: Gulf Navigation Holding PJSC

Contact Basem Barry on +971-4-4270104 or e-mail