Major growth seen in offshore industry
February 2008
More than 100 worldwide suppliers to showcase products and services at Middle East Workboats 2008, the region’s only dedicated event of its kind
The Middle East offshore support industry is witnessing dramatic growth backed by large new workboat orders and increasing merger and acquisition activity among maritime-related companies, says a financial expert.
Multi-billion dollar projects in the Middle East oil and gas industry are driving development in the design and operation of workboats. In addition, there is a growing demand for workboats to service the many port and reclamation schemes taking place around the Arabian Peninsula.
Geir Sjurseth, Managing Director and Global Head of the Offshore Support Group at DVB Bank’s Shipping Division, an international finance house specialising in the global transport market, will be speaking on finance and equity at Middle East Workboats 2008 conference which takes place alongside a major exhibition at the Abu Dhabi National Exhibition Centre from 28-30 April 2008.
“The Middle East offshore support industry has everything going for it,” he said. “A phenomenal growth backed by large new build orders and increasing merger and acquisition activity.”
Abu Dhabi itself is at the heart of the workboat industry in the region and the gateway to the global workboat business with projects in hand totalling more than $400 billion.
“The region is in the process of renewing and upgrading the fleet so a lot of new features and equipment will be available in the market,” said Elvind Grøstad, Senior Vice President and Middle East and India Regional Manager for Det Norske Veritas, one of the world’s largest maritime classification societies and a sponsor of Middle East Workboats.
One of the world’s most prominent naval architects will also be taking part. “Robert G. Allan is pretty much the foremost designer of workboats in the world and his company has worked extensively for clients in the Middle East – including Lamnalco in the UAE,” said Vanessa Stephens, Events Director at Seatrade, organisers of Middle East Workboats
“As a recognised expert in the design and handling of tugs and associated craft, he will be outlining improvements in tug design and operational efficiencies for both harbour and offshore applications,” she added.
The Robert Allan company is Canada's oldest privately owned consulting naval architectural firm with an international reputation for innovative designs. The company designs everything from small fishing boats to ocean-going ferries but is best known for tug and barge transportation, ship-assist and escort tugs, fast patrol craft, fireboats and shallow-draft vessels.
The conference, aimed at senior managers and decision-makers, will be chaired by James MacHardy, the former CEO of the Society of International Gas Tanker and Terminal Operators. Among the other industry related topics will be contracting arrangements and expanding regional maritime building and repair facilities. The importance of maintaining the safety record of workboats along with class rules will also be examined along with technological changes in small craft and manpower recruitment in today’s challenging environment.
The Middle East Workboats exhibition will showcase products and services from all sectors of the industry. More than 100 key suppliers from around the world will be featured including ABS, Abu Dhabi Ship Building, Al Masaood, Damen Shipyards, DNV, Elcorne, GE Engines, IHC Holland, Kongsberg, Lamnalco, Lloyd’s Register, NICO International, Rolls Royce, Samson Ropes, Svitzer, Tianjin Temit, Thrustmaster and Wärtsilä.
Middle East Workboats has gained wide industry backing with sponsors including the ADNOC/ESNAAD/IRSHAD, Abu Dhabi National Oil Company, DNV, Nico International, Svitzer, Wärtsilä and Lamnalco. Supporting organisations include the International Marine Contractors Association and the Royal Institution of Naval Architects.
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