New Third Party Ship Management Venture Sets Up In Dubai

New Third Party Ship Management Venture Sets Up In Dubai

A new ship management company specialising in the offshore vessel, bulker and tanker markets has been set up in Dubai by two shipmanagement heavyweights, ex-Thome and EMS Ship Management boss Svein Pedersen and past ITM Vice President Thomas Arakal.

Noah Ship Management was inaugurated in May 2010 and will start trading by first week of June. It has already started third party management negotiations with local and overseas owners and hopes to have at least 10 vessels under management this year and up to 30 by the end of the next five years.

Once operational, it will be one of a small handful of, if not the only, ship management company in Dubai specialising in the third party management of offshore support vessels. This vessel sector has undergone something of a growth spurt over recent years and there are more than 500 such vessels trading offshore UAE.

Svein Pedersen said: "Although Noah Ship Management is a new company, the employees and the systems we have invested in make us unique in that we can operate an owner's fleet to his liking, in a cost effective way, while still fulfilling all the international requirements and keeping the owner fully updated on the status of his vessels at any time.

"We have invested in a state-of-the-art IT system which links all segments of the operation such as the owner, operator, ship, shore office, crewing agent, yards and other parts of the operation," he added.

Noah Ship Management has also established crew supply and training arrangements with a number of large crewing managers and has also been in contact with a number of the oil majors over vettings and oil company approvals.