DNV celebrated 25 years in the Middle East in 2002 and is therefore well established in the region. In the past four years, we have streamlined the operations, with a high focus on financial and quality operations. This has become even more important now that the Indian subcontinent has been included in our expanded region.
In that our finances and quality operations are in the best possible order, we could last year start expanding our market. We are currently running a project in the region called ‘Higher Ambition’ which will double our income by 2010.
The fleet operated and controlled in the region as per 2004 was estimated to be 27 million grt. This will increase to 42 million grt by end 2009, and DNV will have at least 35% of this fleet to its class.
Iran, India and Qatar have the biggest expansion plans in the region, which will also mean a lot of newbuildings will be built in these countries, particularly in Iran and India.
Today we have more than 40 vessels on order to DNV class at yards in India and Iran, and we are by far the largest society with respect to newbuildings in these countries.
Due to the heavy expansion, we have changed offices in Mumbai and are in the process of doubling our office capacity in Dubai and Qatar.
Parallel to the expansion which is now taking place, there will be a great need for training and tutoring as we estimate that the number of surveyors will increase by more than 10% annually. Most of the new surveyors will be recruited from outside DNV and will be a mix of experienced surveyors and new graduates.
While the expansion takes place, we will be very careful to follow up our quality goals so that the expansion should not in any way jeopardise our quality.
With the above in mind this region will see some great years ahead, with a fantastic economy due to the oil and gas prices and, in addition, the economic boom taking place in India, which seems never to end.