(Source: Middle East Company News)
Capital Management House ("CMH"), the Bahrain based investment bank, today announced that it has entered into a joint venture with Skaugen Marine Company SE ("SMC"), a wholly owned subsidiary of I.M. Skaugen SE ("IMS"), a leading Norwegian petrochemical and logistics transportation marine company, and nogaholding Company, the business and investment arm of Bahrain's National Oil & Gas Authority (NOGA), in Skaugen Gulf Petrochem Carriers BSC(c) ("SGPC").
Capital About Capital Management House
Capital Management House is Islamic investment firm which was incorporated in Bahrain in May 2006. Regulated by the Central Bank of Bahrain, Capital Management House was the first company granted a Category I license to operate as an Islamic Investment business.
The firm, which has an authorized share capital of $200m was established by reputable regional institutions and prominent investors from Bahrain and across the region. Its recent capital increase enabled CMH to file for an upgrade of its current license to a wholesale Islamic investment Bank and to expand its products and services.
Providing unique and creative solutions to clients' financial and investment requirements, CMH continues to focus on its vision to be the clients' investment banker of choice by maintaining a high level of integrity, diversity and product quality.
About I.M. Skaugen
Listed on the Oslo Stock Exchange under the ticker code IMSK,. I.M. Skaugen SE (IMS) is a marine transportation service company engaged in the hassle-free transportation of petrochemical gases, chemicals, LPG and LNG, marine transfer of crude oil and LNG, as well as design and construction of smaller, specialised high quality vessels.
IMS is a fully-integrated shipping company that designs, builds, owns, mans and manages its own ships. IMS customers are major international companies in the oil and petrochemical industry, whom it serves worldwide from locations in Bahrain, Fujairah (UAE), Freeport and Houston (USA), Oslo (Norway), Singapore, Sunderland (UK) and Nanjing, Shanghai, Taizhou, Zhangjiagang and Wuhan (China). We also operate recruitment and training programmes in St. Petersburg (Russia) and Wuhan (China) for the crewing of vessels.
IMS employs approximately 1,850 people around the world and currently operates about 42 vessels worldwide. The fleet comprises petrochemical gas, LPG and LNG carriers, Aframax tankers and lightering support vessels, barges and tugs.
About nogaholding
The Oil and Gas Holding Company (nogaholding) is the business and investment arm of NOGA and steward of the Bahrain Government's investment in The Bahrain Petroleum Company (Bapco), The Bahrain National Gas Company (Banagas), The Bahrain National Gas Expansion Company (BNGEC), The Bahrain Aviation Fuelling Company (Bafco), The Bahrain Lube Base Oil Company, the Gulf Petrochemical Industry Company (GPIC), and Tatweer Petroleum.
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