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Live from SOMWME 2015

Low oil price a good time to replace old fleet: Global Marine

Low oil price a good time to replace old fleet: Global Marine
Following the announcement that Global Marine had commissioned Grandweld Shipyards for a new series of lightweight, 42 m aluminium crewboats, SOMWME Daily News caught up with Shahram Nazemi, Managing Director of Global Marine, for his views on the current state of the Middle East’s offshore industry.

“The present financial situation… to some extent drives oil prices, which is affecting exploration, production, and refining. The oil price has a direct effect on demand, supply and services by offshore coastal services,” he said.

But Nazemi indicated that the oil price was not the only factor affecting Middle-East Offshore. “We also have high demands and expectations driven by safety, efficiency and economical operation, and now is the time where the new and up-to-date should replace the old and aged fleets, to suit these requirements.”

There are a number of offshore sectors which are seeing no decrease in demand, however. “Within the Middle East region there have always been high demands for specialised fleets. In support of this, new and up-to-date crew boats, a sector that was in need of improvement.”

Nazemi insists that adjustments must be made if companies are to remain competitive in the new market. “We need to listen to end user demand and expectations, knowing they also understand the present market conditions, and adjust, without affecting quality of service and safety in operation.”

He continued: “Selecting a shipyard is like selecting a partner in business, that you must expect to be as efficient as your own operation - with quality that can match your requirements and a clean track record in safety. [In Grandweld] we found the right partner, based on our expectations being reached over and over.

“I am a big believer in encouraging, supporting and participating in local entities and companies, such as Grandweld, so they can match and better their output with internationally recognised shipyards. It makes me proud and honoured, and we will continue to do so as and when possible.”

Looking ahead, Nazemi outlined his strategic priorities: “Listen, watch and follow the expectations and demands of the market; maintain vessels status and invest where possible to renew old in the fleet.”