Buamim Addresses Offshore Support Journal Conference
Khamis Juma Buamim, Chairman of Drydocks World Group and Maritime World participated in the "Annual Offshore Support Journal Conference" held from February 17th to 19th 2015, in London. The conference saw good participation from key global and regional speakers in the marine, maritime and shipping sectors.
It brought together many of the offshore support industry’s leaders such as major oil companies, shipbuilders, ship-owners, financiers, designers, suppliers and original equipment manufacturers and industry associations.
Analysts who spoke indicated that the OSV market is estimated to be worth $91 billion by 2018. They provided vital insights into OSV market drivers, revealing new trends and demonstrated how they will impact day rates and the future visions of the industry over the next two to three years.
HE Khamis Juma Buamim, Chairman of Drydocks World and Maritime World group made a presentation in the keynote interview with market leaders titled “View from the top”. This session discussed a range of important topics, including the role of major global players in the industry for 2015, the impact and the on-going turmoil in oil prices, and how players balance and maintain a stable financial situation, make the right strategies. They also discussed the global market direction for this sector as well as determine the directions and practical experience to know the right time to expand into new areas and diversify the nature of the business and how to find a balance between rapid technological progress and organizational development.
Prioritizing the right strategies for operators in the global market speakers also discussed the determination of the direction and practical experience required in order to decide when to expand into new areas and diversify business, to find a balance between rapid technological progress and organizational development.
The conference provided an interactive and vital platform for interaction overcoming the challenges and developments emerging in each region, addressing the evolution of global energy markets and cultivating an understanding of the role that the maritime industry plays. Further, the conference analyzed current business and operation trends while providing the latest prices for offshore support vessels, monitoring the most prominent trends prevailing in the offshore drilling rigs market and the impact on offshore support vessels to determine future forms of trade.
Buamim spoke about the future of marine and maritime industries in the UAE, and Dubai in particular, explaining the vision of leadership in the UAE for the future based on innovation, economic diversification, sources of income, stimulating human potential and activation of overall economic growth.
Addressing the attendees Buamim said, "Five of the largest world-first innovative marine energy projects were manufactured in Drydocks World-Dubai each for the United States, Germany, United Kingdom, Australia and Italy. We have diversified our portfolio and addressed the growth in the market emerging enthusiastically. Drydocks World has implemented “Business Transformation through Continuous Innovation,” because innovation is the key to stay ahead of the competition. The improvement of our operations is through the leadership of our operational excellence program, as we expand our vision to become a global service provider in all areas of marine and maritime sectors in the shipping, oil, gas and energy sectors today and in the future.”
Buamim added that a lot of regulatory laws are unrealistic and diminish innovation, becoming a hindrance in overall economic development and research. He stressed that sophisticated technology exceed laws, taking the latest technology in offshore support as an example, its impact on the image of the sector today, including multiple tasks and specialization ships, operate via satellite and use unmanned aircraft vehicles that scan and monitor the verification and transfer of goods between marine facilities, the beach and oil fields. However, current regulations do not allow this technology because of security concerns, or because of not fully understanding the total composition of the capabilities of these technological transformations.
The conference also included a series of meetings focused on trade matters relating to the offshore support industry, strategies and business trends in oil prices.