Challenges faced by ME ship owners, operators in focus
DUBAI, September 28, 2015
Halul Offshore Services Company, a wholly-owned subsidiary of Milaha, explored the challenges faced by ship owners and operators in the Middle East’s offshore oil and gas services industry during the recently concluded Offshore Vessels Middle East in Dubai, UAE.
The latest edition of the region’s largest offshore support vessel (OSV) conference featured Halul’s chief executive officer Vivek Seth as one of the event’s high-profile panelists who shared their thoughts on the state of the OSV sector, said a statement.
Seth discussed a wide range of topics, from surviving low charter rates to strategies for securing new contracts and funds, in addition to managing uncertainty in longer-term day rates, said a statement.
He also highlighted the pros and cons of consolidation within the OSV sector and gave his outlook on future market prospects, it said.
In a separate presentation, Seth provided an update on the prospects in the liftboat market, in particular the rules and regulations for classification and construction, utilisation, and demand for liftboats in shallow waters.
Abdulrahman Essa Al-Mannai, president and CEO of Milaha, said: “This was an ideal platform for Milaha and Halul Offshore to discuss the prospects as well as key challenges in the regional OSV sector today.
"By continuously addressing the opportunities and issues within the industry, we are all contributing to its further growth and development. The gathering enabled ship owners, operators, and senior decision makers to collaborate and share their experiences with industry leaders, business partners, and customers.” - TradeArabia News Service
