The Shipping Tribune believe in consistently taking steps towards being the change makers in the Shipping Industry! The Shipping Tribune is publishing a series of articles about the performance of the Maritime Industry in the year 2018 and the expectation for 2019. We requested Mr. Ashik Subahani, Managing Director, Great Waters Maritime L.L.C, Dubai to share his views on following topics. We are very happy to share his thoughts and views:
How was 2018 for business in your sector in relation to the maritime industry?
2018 was a challenging year for the maritime industry. At the same time I should highlight that the year was good for quality maritime service providers. Good service providers have made reasonable profit margins.
The competitiveness in rates among the service provider’s kept the Owners and investors at a comfortable position as far as investment is considered. Average oil price of US$ 58 per barrel during 2018 made the oil majors and associated industry in India, Middle East, North Sea and Europe to plan new investments and projects, for which the outcome are expected in coming years. Cost optimization with high efficiency was successfully tested and established during the year by many of the maritime establishments.
- Your expectations for 2019.
More discussions on alternative fuel, renewable energy, LNG as fuel, scrubber retrofit on vessels etc. are expected to be the focus during 2019. Better oil price in 2019 with at an average of US$70/barrel is expected. CAPEX in offshore during 2019 is estimated at an average of 160 USD billion worldwide compared to US$ 94 Billion in 2018. This will enable the investors in marine and offshore to allocate more funds and thereby to announce new projects.
Offshore field development phase 2 in India is now open , which keeps the Indian sector highly positive and attractive for Indian as well as international investors. There will be remarkable investments in marine defence worldwide which will keep the nationwide shipyards in respective countries very busy. 2019 is expected to be a busy year for sure.
- What changes are required and what are the steps that can be taken to improve the performance of the industry?
It’s becoming an era of digital technology and automation with enhanced safety. Better efficiency and optimization shall be linked to new technology for cost effectiveness.
Renewable energy and its application is becoming unavoidable in coming years. Industry should be courage enough to absorb and implement the proven new technologies. Owners, operators, consultants, managers etc. should undergo more training in this regard for better implementation. ‘Efficiency enhancement with new digital and automation technologies’ shall be the focus of change.
About Mr. Ashik Subahani
Ashik started his career in the design department of Corporate Shipyard, Calcutta, after graduating in Naval Architecture and Ship Building from Cochin University in 1994. Later in 1997, he joined Alan R Conroy & Partners, a distinguished marine and Oil & Gas consultant in Dubai. In 2005 he joined BCTQ consultants and became the General Manager, looking after their business in the Middle East Region.
He became part of Great Waters Maritime, another UAE based maritime, offshore, oil and gas consultancy during 2012. Great Waters now operate from Dubai, Abu Dhabi, Baku, Mumbai & Glasgow.
Ashik is Chartered Engineer, a Fellow of Royal Institute of Naval Architects (RINA) , Fellow of Society of Naval Architects & Marine Engineers and Member of International Institute of Marine . Ashik is also the chairman of RINA- UAE Branch and a member of RINA - UK Council.
Ashik has vast experience in design and project management of offshore structures, mobile offshore drilling units, jack-ups barges, crane vessels, FSOs, FPSOs , Tankers and various ship types. He is a Panama accredited marine surveyor. Ashik is also a technical committee member of American Bureau of Shipping (ABS) Middle East and South East Asia as well as MODU (Mobile Offshore Drilling Unit) Special Committee member at ABS Houston.
Jul 16, 2019