Gmmos Group News

UAE-based GMMOS Group has rebranded to Stanford Marine Group (SMG), according to a report on TradeArabia News Service. The group has two main divisions focused on the marine sector: Stanford Marine (OSV chartering) and Grandweld (shipbuilding and repair). Stanford Marine has recently taken delivery of several new OSVs, such as the three ultra-modern 58-metre DP1 platform supply vessels (PSVs) Condor, Osprey and Caracara - which are already chartered – and will be welcoming in its fleet further four new vessels this year, amongst which will be two 87-metre diesel electric DP2 PSVs with methanol carrying capacity. With a fleet utilization level in excess of 90 percent for its current 35-vessels strong fleet…

Grandweld, a United Arab Emirates-based shipbuilding, ship repair and conversion specialist, has secured a major contract worth $128m for the construction of three new Salvage Tugs for Sogeport-GICEP of Algeria. Grandweld is a division of GMMOS Group, a provider of marine services to the offshore oil & gas industry backed by Abraaj Capital and Waha Capital. "This contract for three 58m Salvage Tugs is yet another achievement for Grandweld and has helped us maintain a strong and healthy order book into 2012,"said Jamal Abki, General Manager of Grandweld. Contracts have been signed with the ports of Algiers, Arzew and Skikda for the three vessels intended for sea search-and-rescue operations in co-operation with the Algerian Coast Guard.

UAE based GMMOS Group, backed by Abraaj Capital and Waha Capital, has acquired 100% of the share capital of Minnow Marine Projects Limited (MMPL) through its newly formed Singapore based division Stanford Asia. MMPL founder and CEO Robin Reeves will remain actively involved in the further development of the combined group as head of Stanford Asia. According to Elias Nassif, CEO of GMMOS Group, Stanford plans to make additional acquisitions in the OSV sector while expanding its geographic presence in 2010 with new regional offices in India and West Africa. MMPL's fleet of offshore support vessels (OSV) comprising four Platform Supply Vessels (PSV) and six Multirole Utility Vessels (MUV) valued in excess of $200m…

Abraaj Capital and Waha Capital backed Gulf Marine Maintenance and Offshore Service Company (GMMOS), an United Arab Emirates based provider of marine services to the offshore oil & gas industry, has secured a $100m term loan facility from Standard Chartered Bank, Abu Dhabi Commercial Bank, Credit Suisse and Deutsche Bank to refinance existing debt and fund acquisitions in the offshore supply vessel (OSV) sector, with a focus on the GCC and South East Asia markets. The acquisitions are expected to lead to a significant increase in Group profitability and asset base, with the Group's current fleet increasing from 28 OSVs to 34 OSVs by the end of 2009.

According to a June 23 report from Seatrade, Grandweld recently held keel laying ceremonies for two 118 ft utility vessels and one 134.5 ft crewboat for repeat customer Humaid Badir Marine Shipping Est., a UAE based fleet operator. The three vessel order is said to signal a strong 2009/10 order book for the Dubai based shipbuilding, ship repair and conversion yard, part of GMMOS Group. (Source: Seatrade)

In February Inchcape Shipping of Dubai took delivery of the 4,200-hp crewboat Inchcape – 20. At sea trials in Dubai anchorage the boat demonstrated speeds of 26.5 knots. Main engines are three Cummins KTA38 M2 engines each rated for 1,400 hp at 1,950 rpm. The engines turn into ZF 4540 reduction gears with 2.571:1 ratios and turning Teighnbridge 5-blade 43 x 52-in. fixed-pitch propellers. The 105-ton displacement vessel is 33.5-m long with a 6.7-m beam and a 3.5-m molded depth midships. The after deck provides a 15 x 5.3-m clear deck space with a capacity for 30 tons. Tankage is provided for 10,500 U.S. gallons of fuel and 3,500 gallons of water. Accommodation is designed for up to nine crew and seating is provided for 50 passengers.

The oil industry is one of the primary motivators in current boat building and the Middle East is one of the primary sources of oil. To reflect the central importance of this region Grandweld Shipyard in Dubai, United Arab Emirates is gaining an ever-larger reputation in the construction of vessels to meet the oil industry requirements. Of particular note are their Cummins-powered aluminum crew boats. In 204 and 2005 Arabian Gulf Mechanical & Contracting took deliver from Grandweld of a series of five 30.5-meter crewboats each powered by a pair of Cummins KTA38 M2 engines. In the same time period Inchcape Shippping took delivery of a 33.5-meter crew boat powered by three Cummins KTA38 M2 engines.