Gulf Navigation Holding has signed a deal with China's Wuchang Group to expand its company's fleet, it said on Wednesday. The company said in a statement the agreement would help meet "increasing demand for transferring chemicals from the UAE and other GCC countries to global markets". The statement said Wuchang Group would begin building six chemicals tankers. Gulf Navigation Holding said in September it had reduced its debt from USD36mn to USD21mn and hopes to end a long-running dispute with creditors by consolidating all of its borrowing before the end of the year. (Reuters)