Posidonia 2018 to host international unveil of Industry Titans JV – International Maritime Industries (IMI)

Posidonia2018

Saudi Aramco, Saudi Arabia’s state oil company, and its partners; Lamprell Plc; the National Shipping Company of Saudi Arabia (“Bahri”); and Hyundai Heavy Industries Co. Ltd. (HHI), have chosen Posidonia 2018 for the global unveiling of its International Maritime Industries (IMI) joint venture. When the yard is fully operational in 2022, IMI will offer new build and maintenance, repair and overhaul of vessels, including Very Large Crude Carriers (VLCCs) and Offshore Rigs. Spread over 11.8 square kilometers, IMI will be one of the world’s largest full-service maritime facilities.

To date, IMI has committed orders for 20 Offshore Rigs and 52 VLCCs to be built over the next decade. IMI is also in the process of establishing a supply chain ecosystem adjacent to the yard to drive localization, agility and efficiency.
The decision to leverage Posidonia as the international launchpad for its latest venture reinforces the significance and reputation of the world’s most prestigious shipping signature event.

“We have chosen to participate at Posidonia 2018 to showcase International Maritime Industries’ position as a global competitor and regional hub for maritime industries and services. Given our geographic location and our proximity to strategic shipping routes, IMI is well positioned to be the partner of choice for new build ships and rigs, as well as maintenance, repair and overhaul services. Utilizing the strengths and expertise of the four partners, we are able of offer customers optimum lifecycle cost, efficiency, and leading-edge technology,” said Fathi K. Al-Saleem, CEO of IMI.

IMI will be joining over 1,850 companies from a wide range of maritime industry sectors currently preparing and planning their participation at the June 4-8 event to be held at the Athens Metropolitan Expo across an exhibitor floor space spanning 40,000 sqm. Organisers expect to welcome over 22.000 shipping executives and government delegation members during the five days of the event, traditionally regarded as the playground of the world renowned Greek shipping community.
The key attraction for Posidonia remains the strong presence of the powerful Greek shipowning community at every exhibition, as it is currently leading global newbuilding activity with 61 Greek companies having ships on order worth an estimated US$16bn. Over 260 ships built to high specs, with many of them Tier II and Tier III compliant, are on order for Greek interests at the dawn of 2018, 105 of them contracted in 2017.

The spending spree is regulation driven and stems from the recent ratification of the ballast water treatment treaty and type approvals by the US Coast Guard, as well as new regulations regarding SOX and NOX emissions and Monitoring, Reporting and verification (MRV) requirements, which have speeded up investment in scrubbers, LNG fueled ships and digitalisation of operations. With Greek interests currently running the most modern fleet globally and operating across the globe, compliance with new environmental regulations is a must for Greek shipowners.

This flurry in new building orders and fleet upgrades is drawing the world’s shipping community to Posidonia 2018 in bigger numbers than ever before with commitments or expressions of interest surpassing any previously set event record.

With space bookings already up by10% compared to the same time two years ago and over 80% of the exhibition floor already committed, the organisers had to add another 1,000 sqm of exhibition space to meet demand and are confident that Posidonia 2018 will generate once more new business for exhibitors and offer visitors direct access to the latest technology and the entire spectrum of maritime services and products available on the global maritime market.

Once more the Posidonia exhibition space will be dominated by some 20 national pavilions and especially the leading shipbuilding nations, such as the traditional Far Eastern power houses of China, Japan and South Korea. Maritime Centres such as Hong Kong, Singapore, Dubai and many others will once more present their wide range of services to the global shipping industry and long-standing exhibitors such as the USA, Denmark and Holland will field greater participations than before. But national participation is not only reserved for traditional maritime nations, as Posidonia welcomes newcomers such as landlocked Luxembourg and agricultural economies like Georgia, while Poland will also make its debut. The majority of flag states will also be present at Posidonia, with Panama, Liberia, the Marshal Islands, Malta, Cyprus, the Bahamas, the Cayman Islands and Palau amongst others returning once more to the heartbeat of global shipping.

Among the new highlights we count the Greek pavilion organised by HEMEXPO, the association of Hellenic Marine Equipment Manufacturers and Exporters, which will span over 400 sqm of exhibition space with the mission to promote Greek engineering and experienced maritime solutions for the global shipping industry and looking to further expand its offerings on the makers lists of the most important shipyards worldwide. The Greek presence is complemented by a second Greek pavilion, organised by the Worldwide Industrial & Marine Association (WIMA), representing Greek companies active in the fields of ship construction, ship spare parts & supplies, ship technical and general services and marine equipment manufacturing.