Columbia Shipmanagement has entered into a strategic joint venture with Khobar-based Spectrum Group
The CSM Saudi Arabia joint venture will commence with a management portfolio of 35 offshore units and jack-up rigs, and will expand from there, according to CSM.
A statement from the company said there would be "more to follow, drawing on an expert team of between 70 and 80 staff taken from both companies".
Columbia Shipmanagement chief executive Mark O’Neil said the new entity will aim to expand its services within Saudi Arabia, Abu Dhabi and the other Emirates, rolling out similar operating models, “while always being sympathetic to the individual needs and requirements of the particular Emirate".
"CSM is wholly committed to the region,” Mr O’Neil said.
CSM recently signed a memorandum of understanding (MoU) with International Maritime Industries to provide a range of maritime services to the King Salman International Complex for Maritime Industries and Services on Saudi Arabia’s east coast. CSM also signed an MoU with Abu Dhabi Maritime Academy, a subsidiary of Abu Dhabi Ports, to develop training programmes and provide consultancy services focused on the applications of alternative fuels, efficiency enhancement and artificial intelligence within maritime operations.
Spectrum Group chief executive Hamad Al-Saati said, “The partnership with CSM is at the heart of our transformation plan for elevating the ship management service delivery in the Kingdom and the region. CSM Saudi Arabia will transfer the most advanced technologies in this field to the Kingdom, positioning it as a regional hub, increasing job opportunities and enabling local talent to employ state-of-the art technologies for the first time.”
Mr Al-Saati added, “With this partnership, we aim to utilise our existing regional footprint and cater to clients in the United Arab Emirates from the UAE, securing high levels of in-country value by ensuring a substantial part of our infrastructure is established in the UAE.”