What strategies has Marcap implemented to differentiate itself as a top-tier marine service provider and shipowner operator in the Middle East and beyond?

Marcap's differentiation rests on three pillars: unwavering reliability, client-centric service, and strategic partnerships. We've built our reputation on consistently delivering on our promises, even during challenging circumstances. This reliability is underpinned by a robust preventative maintenance system, a highly skilled and experienced team, and a commitment to transparent communication.

Our client-centric approach means we go the extra mile to understand individual needs and deliver tailored solutions.  Finally, our strategic partnerships with other vessel owners expand our capabilities, enabling us to provide comprehensive services even for the most complex projects. This combination sets us apart in the competitive Middle Eastern market and allows us to expand globally.  

Given Marcap’s recognition as a leading service provider, how is the company adapting to the recent transformation in the maritime sector, particularly regarding the growing demand for new services like AI and cybersecurity?

Marcap recognizes the rapid transformation in the maritime sector and is proactively adapting to the increasing demand for AI-driven solutions and enhanced cybersecurity.

Since 2023, we've equipped our entire fleet with Chart Track Navigation Suite, transitioning to a fully paperless, digital operation. This has resulted in significant improvements in efficiency and accuracy. Furthermore, we've implemented ShipArc, an application that seamlessly connects our crew members with onshore personnel, improving communication and coordination.

Simultaneously, we're strengthening our cybersecurity measures to protect our systems and client data, including implementing robust protocols, investing in advanced security systems.

Can you discuss Marcap's recent fleet expansion, specifically the addition of new towing vessels and how this move enhances your overall capabilities and service offerings in the region?

Marcap's recent fleet expansion, notably the addition of seven towing vessels, significantly enhances our capabilities and service offerings across the region. This expansion directly addresses the growing demand for reliable towing services in the Middle East's bustling maritime sector. The inclusion of these vessels strengthens our capacity to support a wider range of projects, including those requiring complex towing operations, rig moves, and emergency response. As our existing fleet is currently committed to long-term contracts, we are actively seeking further acquisition opportunities and are particularly open to partnerships and management agreements.

Recently Marcap participated in the Saudi Maritime and Logistics Congress 2024 and ADIPEC. What key takeaway did you gain from these events and how do you plan to leverage those insights?

Participating in the Saudi Maritime and Logistics Congress 2024 and ADIPEC provided insides into the current market landscape and future trends. We made several valuable connections with new clients and identified potential vessel owners for partnerships. We plan to leverage these insights by prioritizing the development and integration of AI and fuel-saving technologies; actively pursuing new business opportunities with the companies we met; strengthening our partnerships to enhance our service offerings; and refining our marketing strategy to better address the emerging demands we witnessed at these events.

How does Marcap view the current maritime market landscape in the Middle East, especially in Saudi Arabia, and what key factors will drive growth and innovation in the coming years?

The continued expansion of the oil and gas sector, particularly in offshore operations, will create ongoing demand for reliable support services. Simultaneously, the emergence of renewable energy projects necessitates specialized vessels and services, opening new market segments.  

The increasing adoption of advanced technologies promises to improve efficiency and reduce operational costs across the industry.  Furthermore, a heightened focus on sustainability and environmental protection is driving demand for eco-friendly vessels and practices.

Can you share any specific goals and milestones Marcap has achieved in 2024? What new projects is Marcap currently working on that you believe will shape the company's trajectory in the coming years?

2024 has been an exceptionally fruitful year for Marcap. We've achieved significant milestones, including a remarkable 50% increase in both fleet size and revenue. We've also successfully launched a new suite of comprehensive service packages, addressing a clear market gap by bundling previously separate offerings.

We’ve expanded our geographic reach by entering the Mozambican market, currently managing landing crafts for Safeen, with further projects anticipated. The successful delivery of the Ewan Adventure vessel from Malaysia to ADNOC L&S, complete with a custom A-frame Davit installation and platform fabrication, showcased our ability to handle complex, specialized projects.

Internally, we launched our 'Marcap—One Big Family' campaign, reinforcing our commitment to employee well-being.

Looking ahead, we’re targeting at least 35% growth in Saudi Arabia alone next year. A key focus is the integration of fuel-efficient technologies to further enhance efficiency and sustainability. While this requires collaboration with our clients due to the added investment, we encourage proactive dialogue to implement fuel-saving solutions, demonstrating our dedication to innovation and environmental responsibility.

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