Qatar, the world's biggest LNG producer, recently ordered
45 LNG tankers from three Korean shipyards, each capable of carrying
more than 200,000 cubic metres. The ships include 31 tankers of
209,000 cubic-metre capacity, known as the Q-Flex, and 14 Q-Max
vessels.
In the region, new building, dry and wet repairs and
other services are facilitated by major yards such as Dubai Dry
Docks, Arab Ship Repair Yard – Bahrain, Abu Dhabi Ship Building and
the planned Al Duqm Shipyard in Oman. Smaller yards and builders
spread across the region also attract considerable
business.
UAE has the highest number of ship repair companies
in the region, with the presence of major yards as well as smaller
builders. The ongoing construction and infrastructure projects,
increase in import and export activities, and the growing importance
of routes such as Asia-Europe and Asia-Middle East over
trans-Atlantic routes are seeing more ships and several types of
vessels calling at Middle Eastern ports, triggering huge demand for
repair services.
Another activity that is providing huge business
opportunities for yards and builders is the conversion of
single-hulls. According to industry experts, conversion of
single-hulls is likely to grow by more than 10 per cent this year.
The phasing out of single-hull tankers as per International Maritime
Organisation norms will see increased conversion activity, as
shipping operators seek to convert their single-hulls to either
container liners or workboats. |
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Dubai Maritime City (DMC), the
world's first purpose-built maritime centre, will also support the
region's maritime operators through its comprehensive ship repair
and maintenance facility situated in its Industrial Quarter, which
will be managed by Dubai Drydocks.
DMC has also signed a
memorandum of understanding with the UAE Transport Authority to open
licensing and
registration bureaus for commercial ships, yachts
and boats, which will lead to promoting the country as a regional
centre of the maritime industry.
Workboats are high in demand
on the back of huge reclamation and waterfront projects in the
region. Massive projects such as Dubai and Umm Al Quwain marinas,
the three Palm islands, The World, Dubai Festival City, and projects
that are coming up in Oman, Qatar, Kuwait and Saudi Arabia are
creating huge demand for dredgers, patrol boats, diving boats,
barges and other support vessels. Thousands of these workboats are
keeping the ship repair yards in the region busy.
Given this
scenario, industry experts are of the view that the maritime sector
is going through a patch of strong growth and that market conditions
are favorable to explore more business opportunities.
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