DUBAI, 17th March, 2023 (WAM) -- Seatrade Maritime Logistics Middle East, the flagship event of the UAE Maritime Week held under the patronage of the UAE Ministry of Energy and Infrastructure, will shed light on the region's offshore marine sector that is an increasingly important market segment within the maritime sector.

Scheduled to be held on 16th-18th May 2023, at the Dubai World Trade Centre, the conference and exhibition will delve into the fundamentals of the sector as part of the Seatrade Maritime Offshore Marine & Workboats Forum, which will take place on 18th May.

Oil and gas supply is the major driver for the demand of offshore vessels and structures. Thus, the oil and gas sector is vital to the offshore marine segment both in the UAE and around the globe.

Jamil Al Ali, Middle East Regional Commercial and Business Development Director, Bureau Veritas Marine and Offshore, said, "As the oil and gas sector continues to be a priority sector in the UAE and beyond, the offshore marine sector will always stay relevant. With that said, the constant evolution of the maritime sector has caused a trickle effect in the offshore sector too, whether it is digitalisation or sustainability, both in terms of operations and the environment. While adapting to the changing times, we at BV invest heavily in research and development, helping our experts gain a deeper knowledge of maritime conditions, and improving our suite of software programs, contributing to the development of our offshore marine clients."

As part of the event that has four key segments, including Seatrade Maritime Business Excellence Forum, Seatrade Maritime Logistics Excellence Forum and Seatrade Maritime ShipTech Forum, the Seatrade Maritime Offshore Marine & Workboats Forum will explore offshore marine projects in the region, the flow of foreign investment, and the marine support vessel market.

Andrew Williams, President, Maritime Group, Informa Markets, commented, "With the developments in the oil and gas industries, the offshore marine sector is laden with a great variety of opportunities., though it has its own set of challenges too. Via the newly introduced forum, at Seatrade Maritime Logistics Middle East, we will be bringing to light the numerous opportunities and roadblocks associated with the sector to help further its success."

Fazel Fazelbhoy, CEO, Synergy Offshore and Chair of the Seatrade Maritime Offshore Marine and Workboat Forum, added, "After seven years in the wilderness, the OSV market has finally started emerging from the trough that it's been in since 2014. 2022 was a turnaround year, with utilisation moving into the upper 80-percentile-levels towards the end of the year. Rates have also finally started inching upwards, which augurs well for 2023. This means we are now on the cusp of the next super cycle."