Boom being experienced in Iraqi marine industry (07/08/04)

The marine coatings industry in the Middle East is currently experiencing significant growth, with more ships entering the Gulf following the installation of the new Iraqi government, according to a leading supplier. Leading Saudi-based marine paint supplier Sigma Coatings, part of the global SigmaKalon Group has recorded a significant increase in trade.

Cargo movement has continued to increase

Tom Kennedy, Sigma's marine manager for the UAE and marine coordinator for the Middle East, said that the industry had suffered a downturn at the start of the conflict but that business had since picked up and was continuing to grow. "Ships are now less hesitant about coming into the Gulf and are using the excellent dry dock facilities at Dubai and Bahrain when they need their hulls recoated," he said. "Dubai and Bahrain have always been popular with ship owners in this part of the world as they offer good prices and better quality than some other centres."

Sigma is aiming to take advantage of the upturn in demand by exhibiting its latest coatings at Seatrade Middle East Maritime 2004, the region's premier conference and exhibition for the maritime sectors. Sigma is responsible for the supply of a complete range of maritime paints from its plant in Saudi Arabia, including high gloss polyurethane coverings, hard epoxy-based systems and anti-fouling coatings to keep barnacles off ship hulls.

Seatrade managing director Chris Hayman: "Even with the disruption to shipping during the conflict, last year remained a record year for cargo movements across the region. Dubai Ports Authority recorded a 23 per cent growth in container business and other regional ports also benefited from the increase in shipping.

"The Middle East is one of the world's fastest growing regions and the reconstruction of Iraq will add to that and increase demand for shipping," he added.
Seatrade Middle East Maritime 2004 will run from 6-8 December at Dubai World Trade Centre. The event is being held under the patronage of General Shaikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, with the support of the Dubai Chamber of Commerce and Industry.

Source: Trade Arabia