Joint venture with Al Bakri Group set to create leading maritime and cargo services business in the region.
Inchcape Shipping Services (ISS), the world’s leading maritime services provider, today announced the launch of new operations in the Kingdom of Saudi Arabia. The move provides ISS with a significant presence in one of the largest industrial and project-orientated economies within the Middle East.
In creating the new entity, ISS has signed a joint venture agreement (JV) with Al Bakri Group, one of Saudi Arabia’s leading and most respected organisations. The JV, known as ISS Saudi Arabia will provide customers with marine, cargo and government services as well as survey and liner agency; all specifically tailored to meet the precise needs of each customer’s business. ISS Saudi Arabia will also operate launch services off Rastanura. All services are available to customers 24/7, and are supported by ISS’s global network, systems, infrastructure and standard operating procedures.
Headquartered in Jeddah, where the country management team is based, ISS Saudi Arabia also has offices in Yanbu, Rabigh, Jubail, Rastanura, Ras Al Khafji and Dammam. Mr. Rohan D’Souza, who has over 15 year’s port agency experience, has been appointed as ISS Saudi Arabia Port Manager. D’Souza has been transferred from ISS Qatar, where he was the Marine and Government Services Operations Manager for several years. During this time he developed strong partnerships with ISS customers providing cutting-edge solutions to drive efficiencies within their operations. Based in Jeddah, D’Souza will be responsible for operational delivery and ensuring a consistently high level of service for customers within the region.
Commenting on the launch, Flemming Jensen, Senior Regional Vice President for Middle East and India said: “The launch of our new operations in Saudi Arabia represents the commitment we have to our customers in providing them with state-of-the-art services in a vitally important region for global trade.
Saudi Arabia is the largest economy in the Middle East and has significantly boosted its foreign reserves over the past years, which were projected to reach 1.65 trillion riyals ($440bn) by the end of 2011 according to the Central Bank. Under its budget unveiled in 2011, Saudi Arabia plans to spend $160bn on domestic projects by the end of 2012. The country has also pledged to spend $400bn by the end of 2013 to upgrade its infrastructure, including the establishment of five major economic and industrial cities.