Grandweld signs contract with Stanford Marine LLCfor two GrandSuperior crewboats

Grandweld signs contract with Stanford Marine LLCfor two GrandSuperior crewboats

Thecontractillustrates Grandweld’s uncompromising standards of shipbuilding and will further bolsterits position in the regional maritime sector

Dubai, United Arab Emirates, 31October 2021:Grandweld has signed a contract with Stanford Marine to build two 42m GrandSuperior crewboats with the keel-laying ceremonyrecently completed.These areGrandweld’s 11th and 12th vessels built for Stanford Marine.

The new contract demonstrates the strong relationship between the sister companies and the huge market demand for Grandweld’s highly successful GrandSuperior series of 42m crew boats. This project comes at an integral time as Stanford Marine embarks on a strategic fleet renewal program marking the company’s accelerating growthfollowing the Group’s debt restructuring completed in 2020.

Jamal Abki, General Manager of Grandweld Shipyards said “In 2021, we havesecured multiple shipbuilding contracts worth $30million.Although 2020 was difficult for the industry as a whole, we saw a surge in business. This has continued in 2021 and we now have a solid order book until the end of 2022. Our industry position and our capabilities have helped us gain the confidence of Stanford Marine, for whomwe have built multiple vessels over the years. Therecent crewboat orders are a testament to ourshipbuilding quality and the vessels’ performance,and repeat business is proof that we routinely achieve our goal of delighting our customers. We are looking forward to contributing to the Group’s rapid growth and success.”

Shamjith N.V, General Manager of Stanford Marine said “We are experiencing a rapid increase in demand for Offshore Support Vessels serving the oil and gas sector in the Middle East, South East Asia and West Africa. Stanford Marine is well-positioned to take advantage of this market recovery; this order of new generation crew boats with Grandweld is in alignment with our business objectives and proves SM’s continued commitment to the business.
We assigned Grandweld to build these crew boats due to the vessel’s proven reliability, speed and capacity. The GrandSuperior design is renowned for high utilization rates, low maintenance requirements and its versatile capabilities.”

Headquartered in Dubai, Stanford Marine Group is comprised of Stanford Marine, which operates an extensive fleet of OSVs, and Grandweld Shipyards, a fully integrated shipyard providing shipbuilding, ship repair and engineering solutions for the offshore and marine industry.Through the implementation of innovative technology and efficient practices, the Group has developed long-standing relations with key industry players. Furthermore, acommitment to quality, health, safety and the environment has helped reaffirm its position as one of the world-class players in the industry.

Ends

About Grandweld Shipyards:

Grandweld is a fully integrated shipyard providing shipbuilding, ship repair, and engineering solutions to serve the offshore and marine industry around the world. Established in 1984, Grandweld has developed as one of the region’s most established and versatile shipyards, providing both quality and value. Grandweld Shipyards is established to handle repair, refit and conversion for all types of marine vessels.

Stanford Marine (SM) owns and operates over 35 offshore support vessels (OSVs) that service the oil & gas industry in the Middle East, South East Asia and West Africa. Stanford Marine offer a broad scope of services ranging from vessel chartering to cross-chartering and vessel management. For further information please visit: www.stanfordmarine.com

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