Mega Offshore Projects Shore Up Demand for Multi-Purpose Vessels

The regional maritime industry is facing a demand surge for multi-purpose vessels on the back of dramatic growth being witnessed by the offshore sector.

According to statistics revealed recently, 2013 is set to see massive expansion for the region’s oil & gas industry, with regional players going on a spending spree on offshore projects.

Abu Dhabi Marine Operating Company (ADMA-Opco) and Zakum Development Company (Zadco) have awarded US$ 4.9 billion worth of deals this year on Satah al-Razboot (Sarb) and Umm al-Lulu oil field developments.

Besides this, Qatar’s US$8 billion Barzan North Field Development, and Saudi Arabia’s US$6 billion Arabiyah and Hasbah Oilfield have placed the regional maritime industry into an expansion mode.

“With rising oil and gas demand, hydrocarbon producers in the region are encouraged to spend more in order to increase production and secure new markets. This is generating massive demand for multi-purpose supply vessels, utility vessels and work boats,” said Mr. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah, ahead of the upcoming Gulf Maritime exhibition and Mastech conference at Expo Centre Sharjah.

Besides demand for new vessels, thousands of vessels in operation including platform supply vessels, anchor handling vessels, tugs, dive boats and dredgers are set to dock, get repaired or upgraded in the region, taking benefit of excellent facilities for ship repair and conversion.

Well stimulation vessels that can handle all phases of production stimulation, including fracturing, sand control and conformance solutions for offshore projects and associated equipment are also very much in demand. Demand is high for barges too, prompting the industry to rely on a platform like MASTECH to discuss supply requirements, current trends and developments in the regional maritime industry said Mr. Ashik Subahani, General Manager at Great Waters Maritime FZC & event convener at Mastech 2013.

It is for the second consecutive year that MAST, an association of naval architects, and Expo Centre Sharjah, have entered into an agreement to organize MASTECH during Gulf Maritime.

MASTECH 2011 saw about 638 delegates and the presentation of 20 technical papers in five sessions. It featured 15 speakers over two days.

This year, increasing energy efficiency requirements, safety and reliability concerns and demand for design innovations are once again set to bring naval architects, marine engineering and offshore professionals to MASTECH.

Visitors will be able to listen to experts in the field talk about maritime commerce, developments in ports & shipping to handle ultra large ships and cargos, best practices in marine operations, modular heavy lift and transport, advancement in deep sea development and energy efficiency, among others.

“The maritime industry is currently enjoying a prosperity which is not known for some time. It is therefore understandable that the industry would wish to concentrate on meeting this demand and enjoying the benefits of this upturn in the industry’s fortunes,” said Mr. Trevor Blakely, Chief Executive, The Royal Institution of Naval Architects.

He adds that: “at such a time it is all the more important for the industry to look ahead in order to respond to the challenges it will face from the increasing demands of operators, regulators and society for greater efficiency, safety and the protection of the environment.”

He also says that: “whilst all sectors of the industry must seek the innovative solutions to the challenges faced by the industry, in an industry which is highly dependent on technology, it is undoubtedly the technological and scientific advances made by naval architects and engineers through research and development which will have the greatest impact in providing ships and marine structures which cost less to design, build and operate, are safer, and more sensitive to the environment.

“From technological developments will come the innovation which is the key to continuing success. In bringing together key figures in the maritime and experts in their fields, MASTECH2013 will provide an ideal and valuable opportunity to present and discuss those developments,” concludes Mr. Trevor Blakely.

Ship owners, operators, shipbuilders and suppliers of equipment and services can not only gain in-depth knowledge of the industry but also share their experience, exchange ideas, and discuss latest trends and issues with their peers.

Gulf Maritime trade exhibition will be held at Expo Centre Sharjah from November 25 to 27, 2013, while the MASTECH naval architecture and shipbuilding conference will be held on the first two days of Gulf Maritime. Timings will be from 10am to 6pm daily while the admission is free and restricted to trade and professional visitors only.