Dubai – UAE, 16 December 2019: Continuing to grow its business, Grandweld Shipyard, the UAE based shipyard that specializes in designing, building, and maintaining ships and boats, concluded 2019 with outstanding success, giving it a strong momentum to achieve better results in 2020. The shipyard signed an agreement to build two crew boats to Khalid Faraj Shipping (KFS), the Abu Dhabi based leading company in delivering comprehensive marine services and logistical support to offshore oil and gas projects. In addition to this major accolade, the contract includes an option that allows Khaled Faraj Shipping to build two additional boats, with price protection over a period of three months.
Concluding its results for 2019 with great success, the contract holds significant value for Grandweld boosting the business with momentum and sustainable cash flow during the upcoming year. This allows the company to achieve additional performance records, utilizing the recovery in the oil and gas sector in response to major investments proclaimed by the Abu Dhabi National Oil Company (ADNOC), Saudi Aramco, as well as numerous other leading oil and gas production companies within the region.
“Made in the UAE” marking the competitiveness
Commenting on this achievement, Eng. Jamal Abki, General Manager of Grandweld Shipyard, explained: “For nearly 25 years, KFS has achieved a steady distinction and expansion in marine business, overcoming the challenges that the marine sector has been experiencing in accordance to its strong focus and commitment to delivering the highest quality in services. KFS succeeded to own a large and diversified fleet in terms of ship varieties and build suppliers. Grandweld being KFS’ choice to manufacture their new boats is an honor that we hold dearly, as this proves that the “Made in the UAE” brand represents a seal of quality and standard in comparison to several well-known, international shipyards.”
“We are delivering to KFS our best, newly developed designs, to adhere to the highest international standards. The boats are already trusted by Saudi Aramco, ADNOC, and KOC, as well as most of the leading oil and gas companies worldwide,” Abki added. “Our boats also exceed the requirements of working in the GCC region, as they currently operate in rough waters such as North America, and the Gulf of Mexico. This enables KFS to expand the utilization of the boats in the future into new markets, such as the Mediterranean Sea.”
The contract stipulates that the two boats are to be delivered before the end of 2020, as they will begin operations immediately in order to fulfill the grand expansion plans of KFS, as a result to the increased demand in the oil and gas sector in Abu Dhabi.
Strengthening the national economy
KhalfanFaraj Al Muhairbi, Chairman of KFS, commented on the contract signed with Grandweld and stated that “KFS’ priority is to improve the company’s In Country Value (ICV) ranking. This represents our commitment towards the national economy. In order to achieve this, we do business with national companies that operate within the UAE, giving them priority in delivering our projects.”
Al-Muhairbi added: “However, we never compromise on the quality of our fleet to deliver the best level of services to our clients, in particular, within the oil and gas industry where delays can lead to devastating losses to all parties. As for Grandweld, their build quality is both strong and durable, and their operational efficiency succors us in achieving the desired return on investment. In addition to ensuring the best level of after-sales service, warranty, and maintenance, their shipyard is located within a close proximity to our area of operations. These vital reasons are why we chose Grandweld to build our new boats.”
One of the most remarkable features of the new boat’s design is their ability to be adjusted to handle many other functions beyond crew transport. They are able to carry marine and logistic equipment, as their deck area is sufficient enough to be used for both maintenance of equipment and machinery. Additionally, the boats can be modified to work in guarding and security operations. They have great stability in both sailing or anchoring, even during the rough weather conditions, making them a smart multi-purpose investment, and allowing KFS to get the desired returns.