10.48 AM Sunday, 1 October 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:54 06:07 12:11 15:33 18:09 19:23
01 October 2023

Shipyards for oil and gas are active

By Staff Writer

Business for niché ship ards catering to the off shore oil and gas industry remains brisk despite the global downturn thanks to strong hydrocarbon demand and sustained high prices of the black stuff, according to Nana Michael, Managing Director, Posidonia Exhibitions.

The 22nd edition of Posidonia will be held at Athens' Hellenikon Exhibition Centre from June 7-11.

"As fossil fuel continues to be the dominant driver of energy generation, specialist shipping sectors involved in the exploration, production and transportation of oil and gas are well positioned to emerge from the recession unscathed and kick-start a raft of growth opportunities for the entire shipping industry," said Michael.

Saudi Arabia's Zamil Offshore Services is one of the specialist off shore and marine services providers who will be present at the forum.

With an impressive new built order book including seven Rolls Royce UT 722-2 AHTS vessels, one Buoy Handling vessel and three harbour service tugs for the Saudi Seaports Authorities, two tugs for Saudi Royal Navy and one diving support vessel for a private Saudi owner, the company is the Middle East's largest of its kind.


Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.