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Doha-based Milaha’s shipping and logistics related business has gone from strength to strength in recent years, leveraging to a large extent on the economic dynamism of the local Qatari economy. Now Milaha’s chairman and managing director, H.E. Sheikh Ali bin Jassim Al-Thani, has hinted the company may be looking to broaden its horizons and expand into new markets.
Speaking exclusively to The Maritime Standard, Sheikh Ali said: “To date we have been focused on consolidating our position and building scale in key areas. However going forward we have plans to expand our footprint in a number of sectors, particularly offshore, outside the region. We have been looking at a number of ways to achieve this, including strategic partnerships and acquisitions.”
Over the past few years Milaha has built up a significant growth momentum behind the company. “The main challenge for us is to sustain that momentum and continue to look for interesting growth opportunities across our diverse set of activities,” says Sheikh Ali. “Equally important we are continuing to seek different and innovative ways of serving our customers in the various segments in which we operate. Standard shipping models are difficult to sustain profitably, so we need to be more nimble and identify unique, differentiated approaches to sectors that have largely been served the same way, in some cases for decades.”
Milaha is in the midst of a significant newbuilding programme and is expecting to take delivery of nine offshore support vessels this year, three of which have already been delivered. The newbuildings include Anchor Handling Tug Supply (AHTS), Platform Support Vessel (PSV) and Construction Support Vessel (CSV) type craft, as well as a state-of-the-art Dive Support Vessel (DSV). In addition, over the coming months, Milaha will take delivery of the remaining harbour craft required to support a 20-year marine operations contract at Mesaieed port, while a further six offshore vessels are due for delivery in 2015
“Beyond what is already committed we are continuing to look at opportunities to expand our fleet in the offshore sector, as well as gas carriers and tankers,” notes Sheikh Ali. We have a number of initiatives underway in all these areas.”
As well as expanding in size, and scope, one of Milaha’s key priorities is to further improve environmental performance. Sheikh Ali says, “We are striving to enhance the energy efficiency of our ships and lower fuel consumption. We have carried out onboard studies, including energy audits, and recent measures include fitting devices such as the Mewis Duct propulsion system on our vessels, the use of latest technology paints for the hulls and the implementation of world leading Energy Management Systems within our fleet. This has resulted not only in a reduction in bunker consumption but also a cut in emissions and an improvement in overall operational efficiency.”
Commercially 2014 has been a mixed year so far for Milaha. Its regional container feeder business has suffered from both planned and unplanned shutdowns in the petrochemical industry in Qatar. The group’s offshore fleet has also experienced lower than expected utilisation due to a combination of extended drydockings and offhires. “In both cases we expect the rest of the year will show a significant improvement,” says Sheikh Ali.
There has been better news with regards Milaha’s jointly owned gas carrier fleet, which includes large LNG tankers. These operate in the spot market and have benefited positively from a surge in rates over the first half of 2014.”These markets have been weak and volatile for the past two years,” observes Sheikh Ali. “So the good news is most welcome.”
