IN-FOCUS Adib Abdel Massih MC2 CEO In less than 10 years, CEO Adib Abdel Massih, has lead Marine Core & Charter to remarkable success and obtained maritime prominence By Dushane Solomon MC2 continues on rapid upward trajectory in the region In less than a decade of existence, the marine offshore and transportation company, Marine Core & Charter LLC (MC2) has catapulted itself to the forefront of the industry. By prioritizing the cultivation and 62 NOVEMBER - DECEMBER 2018
development of its long-term client relationships, MC2 has cemented their status as one of the fastest growing providers of integrated offshore support, vessels, logistics, and marine providing services. Established in 2011, the company has capitalized on expertise, leadership, and work ethic, to gradually build credibility. MC2’s current fleet of 36 vessels (FOSV, AHT(S), Multicat workboats, tugs, and barges), and strategic management has also aided the company in effectively catering to maritime through services including marine chartering, marine transportation, ship management, towage, offshore support, and medium-size marine construction projects. Seizing market opportunities Though the company initially entered the market during a period of instability, specifically with regards to the downturn of offshore, MC2 still managed to thrive. Chief Executive Officer, Adib Abdel Massih emphasized, “Historically speaking, low oil prices present the most economical opportunity for governments to engage in infrastructure increasing projects so we used this to our advantage.” Noting the government’s tendency to cost effectively capitalize on market downstream in preparation of market recovery, MC2 effectively leveraged this by adding marine projects to their company portfolio. Stemming from an engineering background, Massih’s career experience, knowhow of fleet management and connection to industry contacts undeniably factored into achieving the company’s first major milestone. Although the market is not in decline as it once was upon the company’s inception, Massih believes the marine construction and offshore sector growth will continue as the market gradually balances out again. Further proof of this can be witnessed first hand by the projects MC2 has successfully tackled and continues to undertake. Witnessing growth through milestone projects and expansion Keen to extend their geographical area, the company’s strategic vision entails continual growth through acquiring more vessels, and targeting projects of greater value for longer time periods. Aligned with this vision, the company expanded to Lebanon last year and opened MC2 SARL. The location has allowed them to closely interact with exploration award-winning oil majors such as Total, ENI and Novatek. “We are in close contact with Total and as they head construction, I believe 2019 will witness a big shift towards mobilizing ships in Lebanon.” Using a combination of barges and tugs, MC2 recently allocated over 12 vessels to transport in excess of a million tonnes of materials to the Palm Jumeirah maintenance project which is now in the final stages. With the assignment almost complete, the company has already taken on a number of additional projects to continue growing as the new year fast approaches. This includes their recently awarded contracted for the construction of a distinguished water fronting in Dubai, UAE next to the Burj Al Arab. The scope of the project requires transportation of over one million tonnes of rocks and the deployment of a minimum of 10 vessels. Additionally, MC2 recently worked with Damen Shipyards to build a new Fast OSV, the first Damen design for their 40-metre series. Satisfied with its performance and customer feedback, MC2 accepted the delivery of 3 additional vessels and successfully secured contracts for them in Abu Dhabi, a location where the company just recently opened a new branch. The company plans to take on more of these units in 2019 as they seek to solidify their footing in the UAE’s capital. Furthermore, Abu Dhabi Supreme Council’s recent signing off on a budget of AED 400 Billion Dirhams for investment in offshore infrastructure surely yields optimism for MC2. As the company prospers, they plan to subsequently extend their reach. Massih elaborated, “We would like to have local self-representation in every area where there is potential of performing projects. In the near future, we hope to further penetrate the Middle East and Mediterranean, Saudi Arabia and India.” Moreover, the company hopes to lengthen their GCC reach and plans on opening an office branch in Kuwait soon as they have been highly active there. The rapid growth and tremendous success of the company in such a short timespan has truly been remarkable and the company slogan of “Reliability at its core” appears to be an accurate representation. We are confident in our capabilities and the reliability of our services, but what really propelled us forward is our work ethic and consistency in submitting our deliverables on time efficiently" MARASINEWS.COM 63
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