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How do you perceive the maritime market in 2018, and is it<br />
still witnessing challenges?<br />
Eng. Adib Abdel Massih<br />
CEO of Marine Core & Charter<br />
Challenges will be always there, but it depends on the way we deal with it. I<br />
usually look at the opportunity more than the threat. That's why, I believe that<br />
the market is recovering in 2018 and our expectations about the improvement<br />
is becoming real now. Everybody is now talking about the new projects and<br />
expansion in offshore services initiated by the leading oil and gas companies in<br />
the region.<br />
What are your current projects and do you have any<br />
expansion plans for your services?<br />
Eng. Adib Abdel Massih<br />
CEO of Marine Core & Charter<br />
Our company has projects in both areas: the maritime construction and the oil<br />
and gas services. We are involved in projects in the UAE, Iraq, Kuwait, Bahrain<br />
and soon in Saudi Arabia. Recently, we have allocated more than 12 vessels to<br />
the Palm Jumeirah maintenance project. Furthermore, we are involved heavily<br />
with many offshore services projects with ADNOC. We were expecting that the<br />
market will get better, so we took advantage of all the opportunities during the<br />
market downturn and we have managed to expand our fleet to more than 20<br />
vessels and barges.<br />
Are you focusing only on the GCC market or you are<br />
exploring more projects in the region?<br />
Eng. Adib Abdel Massih<br />
CEO of Marine Core & Charter<br />
We seek opportunities wherever they are. Last month we attended the 4th<br />
Lebanon International Oil & Gas Summit that helped us explore further potential<br />
business opportunities in the country. Recently, we established Marine<br />
Charter and Core office in Lebanon and we are ready to move our vessels immediately<br />
once the new consortium of Total, Eni, Novatek, who were awarded two<br />
blocks (4 and 9) in Lebanon’s offshore, is ready to start operations on ground.<br />
What is the benefit of In-Country Value initiative launched by<br />
ADNOC?<br />
Eng. Adib Abdel Massih<br />
CEO of Marine Core & Charter<br />
I believe that ADNOC has taken a positive step to<br />
strengthen the collaboration with the local private<br />
sector. It is a win-win situation for the UAE, the economy,<br />
suppliers, and for ADNOC. As ADNOC continues<br />
to make investments in maximising the value of<br />
its assets and resources, I think that ICV initiatives<br />
will help ensure domestic businesses are well positioned<br />
to benefit from planned large-scale projects<br />
that form the foundations of ADNOC’s own growth<br />
plans. I hope that all the UAE government entities<br />
can implement the same initiative to better enhance<br />
the UAE economy.<br />
MARASINEWS.COM 23
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