CSM and Khobar-based Spectrum Group sign strategic joint venture
CSM Saudi Arabia will undertake the immediate management of 35 offshore units and jack-up rigs
Columbia Shipmanagement has entered into a strategic joint venture with Khobar-based Spectrum Group in a move that will see the Kingdom of Saudi Arabia and the neighbouring Middle East region emerge as one of the most technologically advanced and optimised ship management service centres in the world.
The new company, CSM Saudi Arabia, will be a truly Arabic company operating at the highest international standards with a portfolio of ship management and ancillary services specifically tailored for the Kingdom of Saudi Arabia, United Arab Emirates and other clients in the region.
CSM Saudi Arabia will undertake the immediate management of 35 offshore units and jack-up rigs with more to follow, drawing on an expert team of between 70 and 80 staff taken from both companies. It will focus heavily on local talent, training, and the optimisation of people and processes.
By mirroring the ship and crew management operations currently in play throughout CSM’s network of global offices, CSM Saudi Arabia will allow the Kingdom to leapfrog international technological and environmental advances and place it firmly at the forefront of developments in the shipping and energy sectors.
Mark O’Neil, President and CEO of Columbia Shipmanagement, said the new entity will aim to expand its bespoke services reach within the Kingdom as well as in Abu Dhabi and the other Emirates, with similar operating models, “while always being sympathetic to the individual needs and requirements of the particular Emirate and clients within. CSM is wholly committed to the region.”
Abu Dhabi Maritime Academy (ADMA), a subsidiary of Abu Dhabi Ports, also recently signed a Memorandum of Understanding (MoU) with Columbia Shipmanagement to develop training programmes, as well as the provision of consultancy services focused on the applications of alternative fuels, efficiency enhancement and Artificial Intelligence within maritime operations.
Hamad Al-Saati, CEO & Chairman of Spectrum Group, 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, increase job opportunities and enable local talent to employ state of the art technologies for the first time.”