UAE-based GMMOS Group announces it has rebranded to Stanford Marine Group (SMG) in order to better reflect its focus on chartering, operation, building, and maintenance of Offshore Supply Vessels (OSVs). The Group has two main divisions focused on the marine sector: Stanford Marine (OSV chartering) and Grandweld (Shipbuilding and Repair).
Stanford Marine has recently taken delivery of several new OSVs, such as the 3 ultra-modern 58-metre DP1 Platform Supply Vessels (PSVs) Condor, Osprey and Caracara – which are already chartered – and will be welcoming in its fleet further 4 new vessels this year, amongst which will be two 87-meter DP2 PSVs. With a fleet utilization level in excess of 90% for its current 35-vessels strong fleet, Stanford Marine remains in the forefront of marine operators in the GCC and Southeast Asia.
Grandweld has recently secured three additional large ship-building contracts, raising its order-book backlog to a record $250m. This includes two 55-ton bollard pull tugs for Abu Dhabi Ports Company, two 57-metre work maintenance vessels for the Al Mojil Group (Saudi Arabia) and six 54-metre Hybrid Seismic Support vessels (+2 option) for Bourbon which will be the first throughout the region to utilize a completely hybrid propulsion system, and have the possibility to switch between diesel-mechanical, diesel-electric and hybrid propulsion mode, based on several operational scenarios, resulting in reduced fuel consumption and CO2 emissions.
[mappress] Source: Stanford Marine Group, July 7, 2011.