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Suha Abdullah Obaid, Deputy General Manager of FLAC Marine and UAE Marine Sector Specialist, revealed the company's intention to create a joint entity with an Emirates company specialized in navigation to manage the technical and technical tasks. between the two parties. An agreement with an Emirati company that refuses to be identified – buy or lease ships and ships that strengthen our maritime operations, especially in the petrochemical and marine sectors, announced plans, the management of the maritime fleet, the Expansion of maritime operations and the opening of new investments. More vessels and the expansion of assets held by the two companies by the joint operation of these assets and the absorption of domestic and foreign demand, benefiting from the expertise of both parties in the maritime sector, and establishing a strong partnership with a listed company in the financial market,
This came in an interview with Suha Obeid with "Gulf" addressed the most important issues of interest to the maritime sector and navigation in the country and the means to promote and develop and the most important stimuli that can provide and promote, at the same time, that the maritime sector p the state and the region in general expect a bright future and do not fear neither the impurities nor the negative results nor the most important future plans that the company seeks to implement in the coming period.
On the reality of the maritime sector in the country. The marine sector and petrochemicals have different characteristics and the maritime sectors are very busy, especially those related to container transport, the sector being affected by the inability of small businesses to compete with their giant counterparts in China, America and in Europe. Mergers and acquisitions on p "South Korean trader Hyundai Merchant has acquired its Chinese counterpart, Hangin, ranked seventh largest transport company in the world, reducing the costs of shipping and transport and freight compared to the costs of shipping.
As for the supply of crude oil and petrochemicals, it is very encouraging in the region, due to the drop in oil prices around the world in recent years, resulting in a decline in consumer wages relative to prices.The operational cost of the vessel itself, however, has led to increased demand for petroleum and petrochemical products at the regional and global levels and has helped to improve its activity, which stimulated the recovery of demand and high oil prices and encouraged large companies to maintain reasonable market share rates. 15,000 tons capacity, which is not available in many countries in the region since it has a good capacity to cover operational costs.
Suha Obaid: The company "Astronaut Navigation" has 4 tankers with a capacity of 15,000 tons and 7,000 tons. The large capacity has not been affected And the international market variables, while IMO standards on vessel size and capacity of 40,000 tons will result in the departure of many small and medium-sized local or regional and world market vessels. The size of the company's fleet is greater than that of the company's fleet and has helped to reduce the life of the vessel to 25 years, especially the storage vessels and refueling. the indicators and indications confirm that the maritime sector is very stimulating. Two-thirds of the world's trade and shipping "Most transactions are very old and paperwork, we must open the doors of knowledge and technology to all, including information systems and put them in the provision of society, and disseminate a culture of awareness to the sector and to shipping. "
It was considered that countries such as India and some countries, such as India and some of the countries in the region, markets Africa and Africa. Southeast Asia are important markets for the company's business and for the future of strong demand for petrochemical derivatives.
Obeid called on the relevant state authorities to grant facilities and exemptions to citizens responsible for shipping, transport and supply as other countries like the United States. India, where 30% of income from foreign companies
As to the nature of the company's destinations as shipping and transportation ports, Suha Obaid said that it is under the form of good economic projects that the company would make available The possibilities of operating lines
About the sources of financing and supply of ships, she said: "Most of our sources of financing are loans from national and international banks. "
Suha Obaid said that the local market is now inclined to "monopoly" large companies, resulting in the disappearance of important players in the local market and pushes them to merge under the umbrella of A large company, which can help raise the prices of ships in a very short period. Harm the market and push the monopoly enterprise to control the policies and prices of the local and foreign market And the presence of the national groups in this sector is necessary to constitute a guarantee of the future and to ensure the durability of their investments .
And the effects of the volatility of the world currency against the dirham
and the impact of global currency fluctuations against the dirham
. , She said: There is no effect because the dirham is denominated in dollars, but the risk lies in the fluctuations of the euro, and like most destinations and shares of the region, the payment in dirhams or the US dollar has no effect. And the effects of fluctuations in the price of world oil, Suha Obaid considered that high or low oil prices can negatively affect the overall market, and we consider reasonable oil prices that are fully proportionate with the market, for example, If the price of oil is $ 1, the oil will be affected by the production of 0.25 cents, and that the shippers at the frequency up to the visibility in front of them, while the geopolitical conditions of the countries of the region and the world, Reduce their profits in light of the risks inherent in the maritime sector "We issue insurance policies on our vessels by international companies such as Hull and Machinery-H & M." P & I collects insurance until they are accepted, "he said. For example, the insurance policy proposed by P & I
for the insurance of the United Arab Emirates represents no less than 4 billion dirhams, which represents a very large amount and dissipates national liquidity at the same time. 39, foreign and insurance company prices at global levels World prices, which increase each year compared to lower freight prices and higher operating costs for ships sometimes. The national insurance company is required to form a consortium to issue insurance policies on the most important national economy revenues such as energy sources, shipping carriers and the big ships. On the role of technology in business affairs, Suha Obaid said, "We have new approaches and ideas in this regard: we are asking government agencies to open up the base of the company. 39, maritime sector information in the country and clarify it in public. In a particular category. We seek to disseminate economic information related to the sector and the value of its investments, and to enable young people to play a major role in maritime and maritime transport in general in the UAE, with the national ports providing facilities and services. exemptions to national shipping companies.
* The media are very important in promoting the importance of the marine sector and in spreading its culture.
* Opening investment and sector business between "B to B" companies "and not" B to C "or just m And automate technology for reference all the time.
* Give room to younger generations to take command of the maritime sector.
Government and semi-government interventions to stimulate and revitalize the sector through cash flow, exemptions, facilities and regulatory legislation.
* Establishment of a national insurance group to enter into global alliances in the issuance of insurance documents on vessels and large vessels.
* The granting of facilities by the state ports to the national shipping companies to ensure the strengthening of the sector.
Suha Obaid estimated that the company's share of the shipping market in the country is good and that we currently have 4 medium-sized transport and transport vessels. Large and medium size ships during the current year 2018 To reach eight and arrive at 16 very soon, and is currently the best opportunity to invest in the maritime sector and have more ships and ships than the operating cost is very low and the prices reasonable.
She aspires to include the company in the Dubai financial market Investor confidence in the company will increase as it will be incorporated under a regulatory umbrella and open up a larger investment base for shareholders and investors with a fleet and clear financial assets. For (F, f, f, f, f, f, f, f, f, f, f, f, n, f, f, f, f, f,
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