DNV wins 50% market for new vessels on order

Classification agency DNV Maritime has won 50 per cent of the Middle East and Indian market for new vessels on order or being built. The company sets classification rules for ships, verifies compliance and issues survey reports and certificates.

Cash-rich oil companies are driving the demand for offshore support vessels (OSVs) of various types, of which DNV has classified 300 currently on order worldwide.

"The regional offshore sector is exceptionally buoyant," said Dubai-based Eivind Grostad, DNV Maritime's Senior Vice-President and Regional Manager.

"We have 125 OSVs currently being built to DNV class in local shipyards such as Drydocks World, Seaspray and Nicocraft as well as at Hindustan, Bhrati, Mazagon on the Subcontinent."

Besides the OSVs, DNV has received a number of recent orders from local owners that include very large crude carriers for Vela International, chemical carriers for the United Arab Chemical Company and bulk carriers for Shipping Corporation of India. And the Abu Dhabi National Tanker Company has ordered several Aframax tankers.

Scott Jervis, DNV's New-building Manager in Dubai, said: "Shipyards in the Middle East and India are not only winning more new-building orders, they are moving up in vessel size and complexity too, brought on mainly by strong market demand and the lack of capacity at Far Eastern yards."