Dubai Maritime News

ULMATEC Services LLC - Dubai - Storming ahead

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After a period of challenging offshore market, Dubai-based ULMATEC Services LLC has come out swinging with a swelling orderbook and a new partnership with a major Norwegian player, Brunvoll.

“We’ve never had an orderbook like this year; we are off to a fantastic start,” explains Kjetil Leine, ULMATEC Director and Managing Partner. “We are almost fully booked until August.”

Offshore activity fell to an all-time low in 2016, and many companies did not survive.

“There are many companies here, all competing, driving each other down on price; many companies complain that they’re not being paid.”

But despite this, the local offshore market is looking positive, with vessel utilisation on the rise. “Owners here have approximately 80% utilisation here now, and of course, as these vessels are operating that means they are in need of servicing and spare parts, which is good for us.”

New projects promise to bring business to the region, too. Chief amongst these is the $1.36bn construction of 10 new artificial islands and causeways, in the first phase of the Ghasha Concession development. Work will also include the expansion of an existing island, that of Al Ghaf.

“The vessels working there will contribute enormously to the local repair and service market,” explains Leine. “Once the new islands are built, ADNOC will be in a position to increase production from 4 to 5 million barrels [of oil equivalent] per day.

“There will be all manner of vessels – anchor handlers, tugs, dredgers – which will be in operation rather than laid up. These vessels will be repaired in Dubai, and Abu Dhabi – they won’t go to other countries.” So there is a big hope for the future.”

Most recently, ULMATEC Services LLC has signed an agreement with Brunvoll, a Norwegian manufacturer of tunnel thrusters, gearboxes, propulsion and manoeuvring systems. The move puts ULMATEC Services into a better position to take advantage of this anticipated influx of new work.

“Brunvoll has a 90% rate of export, and a healthy installed base with over 8,000 thrusters installed. This is what we look for – because then they have spare parts,” says Leine, who also points out that the arrangement will future proof its engine-focused business. Two Brunvoll azimuth thrusters and two tunnel thrusters are being installed on Yara Birkeland, the first fully-electric containership in Norway. “We are extremely happy to have Brunvoll on board,” he adds.

ULMATEC Services has at their workshop in Dubai a series of ‘customized Brunvoll toolboxes’ with all special tools included for repairing the different types of Brunvoll thrusters. They are also currently recruiting experienced propulsion engineers so they can offer local service on the Brunvoll equipment.

TST Newsdesk (TST stands for The Shipping Tribune)

Jun 27, 2019

ULMATEC Services LLC - Dubai - Storming ahead

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