Gulf Maritime in Sharjah Forecasts Better Opportunities for Sector (UAE)

Gulf Maritime in Sharjah Forecasts Better Opportunities for Sector

The regional maritime sector is poised for exceptional growth, given the rise in demand for oil & gas and massive increase in trade activities and infrastructure projects expected in the run up to key international events in the region, according to maritime executives who attended the just-concluded Gulf Maritime trade exhibition at Expo Centre Sharjah.

While the oil & natural gas sector in the Middle East will see a flurry of activities on the back of US$1.6 trillion in new investments over the next 25 years, the preparations for World Expo 2020 and the 2022 FIFA World Cup will require billions of dollars in expenditure, thus generating tens of thousands of jobs and facilitating trade activities.

Together, these international events will generate massive opportunities for the regional maritime sector. Regional ports, shipping and logistics sectors will be direct beneficiaries, along with other industries like real estate, hospitality, tourism and trade,” said Mr. Saif Mohammed Al Midfa, CEO, Expo Centre Sharjah.

Held under the patronage of Sharjah Crown Prince and Deputy Ruler H.H. Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, the ninth Gulf Maritime exhibition was organised at Expo Centre Sharjah from November 25 to 27, 2013.

With the buzz about winning the bid to host the World Expo quite palpable during the last day of the exhibition, industry observers were quick to point out that the shipping, ports and logistics industries need to be well prepared to meet the supply chain challenges arising out of the US$7 billion infrastructure projects planned for the World Expo 2020 alone.

On the energy front, global oil demand is forecast to average 92 million barrels per day in 2014, up from 90.9 million b/d in 2013, prompting oil producing states in the region to develop offshore projects that will generate opportunities for the maritime sector in a big way. Demand for natural gas is also expected to increase steadily and is estimated to account for almost a quarter of the world’s energy demand by 2035.

Riding on rising trade activity, offshore developments, port expansions and container traffic and the plethora of opportunities they offer, Gulf Maritime attracted 2890 visitors during its three-day run.

Prisma Electronics SA from Greece, which took part in the exhibition for the first time, was impressed with the visitor turnout and response it received. “As new exhibitor, we feel that the Gulf Maritime exhibition is an important stop for us to access the UAE market and to generate new businesses,” said Mr. Stefanos Chartomatzides, IS/IT Consultant, Prisma Electronics SA.

Majority of the exhibitors who took part in the ninth Gulf Maritime exhibition were quick to realize the huge potential in store for the sector and seized the opportunity to book their space for the next edition of the biennial show.

“Gulf Maritime is an excellent platform that showcases opportunities in the regional maritime industry and allows us to network with new customers,” said Mr. Rafid Qureshi, Technical Manager, Ocean Power International LLC from UAE.

The third MASTECH naval architecture and shipbuilding conference was held on the first two days of the Gulf Maritime, attracting nearly 700 delegates and presenting more over 15 technical papers in five sessions and a panel discussion.

Sharjah is known for its reliability in doing business with, thanks to many interactive events where people can meet and conclude deals. The MASTECH conference alongside Gulf Maritime attracted many quality visitors, helping facilitate networking and striking deals,” said Mr. Sunil Gangadharan, Business Development Manager, Sharjah Department of Seaports & Customs, Seaports Authority.

Apart from ports development, offshore design and energy efficiency, the speakers also stressed on the importance of maritime and offshore safety and energy efficiency that regional companies need to focus on.

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Expo Centre Sharjah, December 5, 2013