Cyprus-based Columbia Ship Management (CSM) is looking to expand in the Middle East after forming a new joint venture.
CSM has teamed up with Khobar-based oil services company Spectrum Group to set up CSM Saudi Arabia.
The two sides see the strategic move as potentially positioning the Arabic nation as the "global hub for future-proofed ship management".
They also believe the Middle East will emerge as one of the most technologically advanced service centres.
CSM Saudi Arabia will be "a truly Arabic company operating at the highest international standards with a portfolio of ship management and ancillary services", CSM said.
The venture has already signed up 35 offshore units and jack-up rigs, with more to follow.
The company draws on a team of between 70 and 80 staff taken from both CSM and Spectrum.
"It will focus heavily on local talent, training, and the optimisation of people and processes," CSM added.
All vessels considered
The ship manager told TradeWinds the venture will target all vessel types and other Arabic owners and operators.
A CSM spokesman said that it is working with "well known and reputable shipowners with substantial experience and track record in the region".
The company is not naming names, but domestic offshore shipowners include Rawabi Vallianz, Zamil Offshore and Makamin Offshore.
The spokesman added: "Our well-defined, all-inclusive, extensive and long-term vision is unlimited and reflects the present interest which we’ve received so far for collaborations via our new set-up."
Saudi ties increasing
CSM said it had shown its commitment to the Middle East and Saudi Arabia by the recent signing of a cooperation deal with new shipyard group International Maritime Industries to provide maritime services at its facility in Ras Al Khair.
Abu Dhabi Maritime Academy (ADMA), a subsidiary of Abu Dhabi Ports, is also working with CSM to develop training programmes.
Mark O'Neil, president and chief executive of CSM, said the new venture will always be "sympathetic to the individual needs and requirements of the particular Emirate and clients within".
"CSM is wholly committed to the region," he said.
Hamad Al-Saati, chief executive and chairman of Spectrum, said the partnership with CSM is key to the company's plan to boost its ship management offering in Saudi Arabia and the region.
O'Neil said: "We see this as the start of a compelling regional proposition and offering, which offers a tailored, win-win solution for all stakeholders,"
