autumn 2016
rock news
Repeat business boosts performance
T
he ship repair business remains challenging but, despite a general market downturn, Gibdock continues to perform relatively well. This June was, for example, a recordbreaking month for our offshore related work, with the second quarter of the year as a whole being exceptionally busy.
John Taylor, Operations Director, and myself will be attending SMM in Hamburg this September, and look forward to meeting as many stakeholders as possible during that week. Please come and talk to us in Hall B3, Stand 205, if you are visiting Hamburg this year. We would be delighted to see you.
I have been asked, how are we achieving such success within the offshore sector when this market is going through a welldocumented period of difficulty as a result of low oil prices? The answer must include our abilities and customer confidence that we will live up to our promises. It is true that we benefit from a favourable location, but we also deliver in terms of quality, safety and on time completion. And these are things that really matter in this sector.
Richard Beards, Managing Director
It is significant that most of our offshore work this year has come from returning customers. This loyalty demonstrates that they have been satisfied with their past experience at Gibdock and so are more than willing to come back. We have worked hard over the past decade to build up confidence amongst offshore owners and operators and that effort is now paying off. Recently, Gibdock began working on another scrubber refit project, highlighting our position as the ‘go to’ yard in the Mediterranean for environmental refits. Meanwhile, we recently confirmed a comprehensive cruise ship refurbishment, with Thompson Majesty booked in to the yard later in the year underlining our strong reputation in the sector. We are also grateful for the loyal support of regular customers in the ferry and ro-ro shipping business. The Grimaldi group has entrusted us with several of its larger vessels in recent times, with another of its multipurpose ro-ro ships, Grande America, recently docking in Gibraltar.
Brexit bounce Residents of Gibraltar voted overwhelmingly for the United Kingdom to remain within the European Union, with 96% supporting Remain. Despite the obvious disappointment at the outcome, Gibraltar-based businesses, including Gibdock, have not seen any negative consequences of ‘Brexit’ to date. Richard Beards, Managing Director, says: “In fact, so far it has only been positive for Gibdock. The decline in the value of sterling after the Brexit vote has made the yard more competitive compared with most of our eurozone-based rivals.” It is still early days post-Brexit, with the UK yet to trigger Article 50. However, Gibdock is already lobbying, along with other Gibraltar Port Association members, to ensure that negotiations take into account the requirements of businesses and residents on The Rock. Richard Beards points out: “Our Chief Minister, Fabian Picardo, met with the UK Prime Minister, Theresa May, almost as soon as she was appointed. We will be supporting the efforts of the Gibraltar government to ensure that the terms of Brexit cause minimal disruption to the flow of people and goods in this part of the world. For the time being it is very much business as usual.”