GULF NAVIGATION HOLDING-

GulfNav returns to black: DFM-listed maritime player Gulf Navigation Holding (GulfNav) saw its bottom line reach AED 7.4 mn (USD 2 mn) in 2Q 2025, reversing an AED 13.2 mn loss in 2Q 2024, according to a press release (pdf). The company also saw its revenues grow 110% y-o-y to hit AED 28.5 mn (USD 7.8 mn) during the period, driven by growing chartering activities, optimized fleet operations, and cost reductions.

On a 1H basis, the firm posted a net income of AED 463k in the six-month period, rebounding from the AED 24.7 mn in losses recorded during 1H 2024, according to GulfNav’s unaudited financials (pdf). Revenues rose 45% y-o-y to AED 54.3 mn over the same period.

REFRESHER- GulfNav closed its AED 500 mn mandatory convertible bond issuance in July, which was oversubscribed by shareholders, to fund its AED 3.2 bn M&A of three subsidiaries of Fujairah-based Brooge Energy, which run oil storage infrastructure.

ALEXANDRIA CONTAINERS AND CARGO-

Alexandria Containers reported a net income of EGP 6.6 bn in FY 2024-2025, up 5% y-o-y, according to the company’s financial statement (pdf). Revenues also increased during the year, rising 26% y-o-y to EGP 8.3 bn. This comes after the company saw a 13% y-o-y increase in the volume of handled containers.

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