“We have managed to secure six projects in the Gulf, mainly in Kuwait, Bahrain, Qatar and the UAE. At the moment we are busy. Until the third quarter of 2016, we will continue to be busy,” Adib Abdel Massih said, without disclosing the value of the deals.
“The projects are mainly related to marine construction, which we are focussing on since the offshore business went down. We are one of the main transportation companies in the Gulf,”
Marine C2 helped a Greek contractor to complete work on the phase 1 breakwater project at Iraq’s Al Faw Grand Port last August, he said, with Korea’s Daewoo Construction and Engineering now engaged in building a second, also assistance from Marine C2.
“Al Faw phase 1 breakwater project was completed in August 2015. We are also doing some jobs for Daewoo,” he said.
Marine C2 took delivery of Petra 1, a 45m aluminium fast offshore support vessel, able to carry 112 people, from Triangle Shipyard of Dubai Maritime City yesterday. Abdel Massih said the vessel would be chartered out to Abu Dhabi National Oil Company’s Zakum Development Co (Zadco.).
“We have taken steps in the offshore sector with the vessel you see today. We managed to secure a contract with Zadco. We don’t believe that Abu Dhabi will stop [oil production]. We will see a fall in rates and a lot of competition. The market has been affected but business will continue.”
Designed by the UK’s Camarc Design, and with a top speed of 30 knots, the Petra 1 is part of a new-build programme involving two vessels, the second of which is scheduled for delivery later this year.
Triangle operations director, Zaid Abbas, said another GCC-based company had ordered a further two offshore vessels due for delivery in 2017.
Abdel Massih said one of the projects Marine C2 was working on was to construct seven offshore resort and residential islands off Qatar, at Sumaysimah, between Ras Laffan and Doha.
He said the six projects were mainly in port construction or transportation of rocks and aggregate for the wholesale market or marine construction of islands. “Projects are continuing in full force. We can’t predict what will happen in six months,” he said.
Marine C2 manages 15 OSVs, including two anchor handlers, with the rest of its fleet tugs and barges. “We operate around 50 units, also mainly tugs and barges. Our total capacity is about 65 units. Last year at the peak we reached 128 units. That was really exceptional.”
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