June 7, 2022
The maritime industry had a good start in 2022, along with the increase in fuel prices. How was Marcap’s start for this year?
Marcap started this year with a positive dynamic. With the Corona behind us and the increase in oil prices, with the launch of many development projects in the Oil & Gas industry, we observe high demand in the vibrant market. For Marcap this has been translated into awards of various numbers of excellent projects in the region, so we personally can experience this demand on the ground.
Based on the experience that Marcap gained during 35+ years on the market, what do you think are the challenges facing the industry today?
The main challenge of the industry is a gap between the supply and demand of vessels. There are fewer active vessels available on the market. The international supply chain has been disrupted due to the situation in East Europe and the post-covid effect. Equipment is taking more time to make. This is going to affect the time required to build vessels to get them into the market.
The other thing is the availability of crew. During the COVID and due to the recession on the market many professionals have moved to other industries because they had been laid off. The number of fresh graduates is also less. East Europe with the hostilities is also depriving the market of the available crew. So, this is the other challenge that the industry is facing.
Looking at the diversity taking place in the world’s fleet and ships, how is Marcap distinguished in its services to meet today’s requirements? Where do you think is Marcap’s point of strength, among the different maritime fields?
Marcap is proud to be a proficient operator working with values. Marcap is distinguished as a highly professional service provider to its clients by putting their requirements first; by being fair in all its dealings whether with clients or subcontractors; by having a highly competent and motivated team which we call family; by adding new vessels to our fleet with assets which are designed and focused on the market and client’s needs; by putting safety and quality control as a focal point. Our plan is to concentrate on green and environmentally friendly solutions for the market.
What requirements should Marcap fulfil to constantly lead this success it shares with the world?
There are three main aspects. One is the product that Marcap provides, a fully functional and environmentally friendly vessel with a highly competent team, who is very well motivated and act safely. The second is understanding and completing client’s requirements, fulfilling them to the client’s satisfaction. The third component is to maintain our good reputation, continuing to conduct business in a fair and ethical manner
What does Marcap have for the second half of 2022? Main Projects?
Developing business both in UAE and KSA, we are looking at the projects in the Red Sea, expanding to West Africa and the Arabian Sea. The main projects remain to be with our respectful clients such as ADNOC, ARAMCO and KJO.