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Marine Industry in the Gulf posts significant growth

The leisure marine industry in the Gulf and Middle East region continues to flourish despite tough competition from international companies. Indeed, the global economic downturn has not prevented the Gulf-based boat and yacht builders from making significant inroads into emerging international markets like Asia, Eastern Europe and CIS countries. This was revealed at a press conference held Monday March 18, 2002, ahead of the Middle East International Boat Show (MEIBS). In addition, the Arab Marine Industry Association (AMIA) also predicted that the growth would continue to be strong as there was increasing evidence of trust in the GCC-based marine industry. The press conference was held jointly by Gulf Craft Inc. one of the largest exhibitors at the MEIBS and EPOC International, the organisers of the show, to be held from March 20 -23, 2002.

"The tenth edition of the MEIBS to be held this year, is evidence of the continuing growth of the marine leisure industry in the region," said Geoff Dickinson, Managing Director of EPOC International, the organisers of the MEIBS. "The impressive exhibitor list at the show includes nearly 100 exhibitors from 20 countries with a significant number hailing from the GCC countries. Our largest exhibitor at this year's event is Gulf Craft, who have always been a major supporter of the show and I would like to extend a special thanks for the continued support."

"The Arabian Gulf has always been home to some of the finest boats in the world because we have an age-old seafaring tradition and a historical association with the waters of the Gulf. The wonderful array of exhibits at this year's show only underlines this commitment to the sea by the Gulf-based manufacturers," said Mohammed Al Shaali, Chairman of Gulf Craft and the AMIA. "Our boats and yachts are creating a significant quality niche in the international leisure marine industry where they compete successfully against the well-established manufacturers of Europe and the US. And we have managed to achieve this position despite a lack of official support. I would like to emphasize here that the stringent quality standards that we apply are strictly self-imposed and not regulated by any official bodies in the region," he added.

Evidence of Gulf Craft's commitment to the marine industry is demonstrated with the launch of Gulf 85, the exciting new yacht launched at the MEIBS. Built to the latest international technical specifications with hi tech electronic navigation systems, radars and control equipment, the Gulf 85 is an exciting combination of technology and tradition. The interior of the vessel has been specifically designed for the discerning Arab client and includes a huge majlis, built to Gulf standards. The lower deck accommodates the sleeping quarters and can be customised to extend upto four main bedrooms. The upper deck comprises a sizable dining room that can be modified to suit client preferences, a large kitchen suited to Gulf tastes and the fully equipped control room. Gulf 85, which delivers a speed of 24 knots with standard power (twin 900 horse power) or 30 knots with optional power (twin 1370 horse power), has been built with special emphasis on safety and security considerations.

In addition to Gulf 85, which is being exhibited at the on-water display, Gulf Craft also has four other boats on display at the VIP Boat Show at Creek Golf and Yacht Club. These include the popular models like Ambassador 55, Ambassador 47, Sinbad 38 and another new vessel from the Majesty 86 series. Gulf Craft will also be displaying six yachts at its main stand at Airport Expo Dubai. These include the Ambassador range of 36, 32 and 24, DSD 31, Walkaround 31 and Swan 20. Gulf 85 is Gulf Craft's second major launch of a new model within a year, the last one being the Millennium 118 that was unveiled in August 2001.

The Gulf produces thousands of leisure boats annually, of which the UAE's share alone is 700. Gulf Craft, who export 70 per cent of their products to the US, Europe, Russia, Australia and South East Asia are now planning to increase their existing 30 per cent share of the regional markets. In recent weeks it has successfully targeted the emerging markets of the CIS countries including Russia and Kazhakastan in addition to Lebanon, Norway, Italy and Switzerland.

The MEIBS, the region's premier event for the marine industry is organised by EPOC International and Mike Derret Marine. The show will host a strong local contingent of marine suppliers complemented by several international players, including organizations from Canada, the UK, Australia and Italy. The current growth trend in the regional marine industry has inspired numerous companies to participate in the MEIBS, which will feature a range of products, including the newest in outboard motors, boating accessories, and radio telecommunications products for the marine sector.