Al Seer Marine PJSC announced that it has launched a new product range by developing high-speed ferries in collaboration with French design and innovation company SEAir. The new high-speed ferries under development will utilise SEAir's extensive expertise in creating innovative maritime technologies, including hydrofoils that reduce fuel consumption, and patented technologies that support stability and shock mitigation. As a result, the vessels will be more cost-effective and safer with the ability to reach the fastest top speeds in the MENA region.

This cooperation will enable Al Seer Marine to develop vessels for public maritime transportation that can carry 60 - 80 passengers. The new vessels will have a direct positive impact on customers by reducing ticket prices, improving safety parameters, and shortening travel time. According to the Fortune Business Insight report, the global Marine Hybrid market is expected to grow from USD 3.93 billion in 2021 to almost USD 10 billion in 2029 at a growth rate of 11.71% in the forecast period.

The Middle East and Africa region is also expected to increase at a considerable compound annual growth rate during the project period. Al Seer Marine is already a leader in marine services in the region and has been expanding rapidly in the commercial shipping segment. The company aims to increase its fleet to become the largest in the MENA market and is analyzing expansion initiatives in product tankers, gas tankers, and dry bulk shipping sectors, with short-term plans of acquiring 10 to 15 ships in 2022.