Seatrade witnesses trade deals worth $40 million

Abu Dhabi – MENA Herald: Contracts and plans worth up to $40 million were announced at Seatrade Offshore Marine & Workboats Middle East conference and exhibition at the Abu Dhabi National Exhibition Centre (ADNEC) yesterday (Monday 5 October 2015).

Firstly, Oman-based Renaissance Services SAOG announced that it had sold its subsidiary Topaz Engineering Limited to UAE-based Chalmers Holdings, which plans to expand its Engineering Procurement and Construction (EPC) activities in the marine and oil and gas sectors.

Rene Kofod-Olsen, CEO of Topaz Marine, said that the transaction comes after a spell of more than two years during which Renaissance has made clear its intention to dispose of its shipyard and marine engineering business with a clear strategy to focus on its core activity of offshore ship operation.

Topaz Engineering comprises two divisions, Nico International which focuses on ship repair, and Nico Craft at the Mussafah shipyard. It is here that Chalmers intends to expand its EPC activity, particularly in the oil and gas arena.

Subsequent to the signing, a total of five regional facilities have now changed hands. They include a waterfront shipyard at Mussafah in Abu Dhabi, a repair facility in ADPC which includes a recently refurbished 2,000-tonne floating dock, large workshops in Fujairah and Dubai Maritime City and another workshop at Al Quoz in Dubai.

John Thomas, Chalmers Engineering COO, revealed that the company intends to spend between $8-10 million at the Mussafah shipyard which has 165 metres of prime waterfront. Capital will be invested in a new jetty and capital dredging of the approach channel to a likely depth of 8-9 metres, enabling the float-out of larger offshore modules in due course.  

Secondly, Australian headquartered, design and manufacturer of defence and commercial ships’ company, Austal, also announced the delivery of two 45 metre high speed catamaran crew transfer vessels, for the Abu Dhabi National Oil Company (ADNOC) by Austal Philippines which arrived in Abu Dhabi yesterday.

The two catamarans have the capacity to carry 160 passengers and 12 crew and have a top speed of 35 knots. Commenting on the $30 million contract, Austal Chief Executive Officer Andrew Bellamy said the delivery of the two vessels further reinforced Austal’s position and capability in a competitive global market.

“This timely delivery demonstrates, Austal has the right production cost base to compete for commercial vessel contracts and successfully leverage our intellectual property with a proven design,” he said.

The biennial Seatrade Offshore Marine and Workboats Middle East 2015 (SOMWME) is the region’s leading event for the workboat and offshore marine industries which focuses on the challenges and opportunities facing owners, operators and regional governments involved in the offshore marine and workboats sector with a series of dedicated conference and networking sessions examining the prospects for new commercial developments and exciting technological innovation.

“Major industry players now choose to make key announcements such as these at SOMWME, highlighting the integral role the event plays, supporting the region’s offshore and marine industry sector,” said Emma Howell, Head of Marketing, Seatrade.   

For more information and for the full forum schedule please visit –

2016-11-08T21:10:37+00:00 Tuesday 6, October 2015|Categories: Services, United Arab Emirates|Tags: |