Company Reports - Ezra Holdings & EMAS Offshore
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Ezra Holdings & EMAS Offshore
Future-proofing their business
Written by Lynelle Johnson & Produced by Lorraine Heist
Since the late 1980’s very little has been invested in training by the maritime sector and now the industry is facing an emerging shortage of experienced crews and officers.
According to industry paper, Daily Commercial News; “By 2015, a worldwide shortage of ships’ officers is forecast to reach 27,000 as aging baby boomers retire and fewer young people enter the SESDAQ") and promoted to Mainboard on 8th December 2005.
Clients best know the company under the brand name of EMAS, which has a proven track record that is well-respected in the industry.
Through the years, EMAS have developed an experienced and well-trained team of offshore crew and shore-based executives.
The company operates four main business divisions:
· Offshore Support Services
· Construction and Production
· Engineering and Fabrication
· Deepwater Subsea
Ezra’s earning stream is diversified: deriving about 60% of sales from offshore support services, 20% from ship yard operations and the rest from marine services. The company’s combined revenue was $US330 million last financial year and it employs over 2000 personnel.
The company services fields in Southeast Asia, West Africa, Australia and the Middle East. Recently, they also entered the challenging energy market in India and are expanding their deep sea (subsea) capabilities to service the growth expected in deep sea operations in South and North America and West Africa.
SUBSEA- KEY TO GROWTH
According to the company, post 2012, deepwater or subsea contracts (2/3000 meters) will be the only sector to keep growing as shallow and mid water reserves are depleting. They estimate is that this sector will expand by another 12% in 2012 and project the industry will be worth a total of $US 162 billion from 2009 to 2013.
Originally based in Huston where most oil and gas companies are headquartered, they re-established a presence there in 2007 to further explore partnerships and tenders for deep sea contracts.
The Deepwater Subsea division provides subsea, umbilicals, risers and flowlines installation, subsea inspection, maintenance and repair, well intervention and drilling and decommissioning services.
This division was established in the financial year 2009 as part of the Group’s “Next Lap Growth Strategy”, which involves a strategic expansion into the deepwater subsea services sector.
The Energy Services was integrated within the Deepwater Subsea division to support the Group’s client base across a wide spectrum of subsea services in the oil and gas sector.
This sector requires different skills and a class of assets to EMAS’s other activities. The company has currently has a young fleet of around 30 vessels, 11 capable of Subsea operations.
In 2007 the company ordered three vessels to expand its subsea operations and these will be in commission this year.
One DP3 is a well intervention vessel which also has a crane and is capable heavy duty instillations whilst accommodating 320 personnel.
Two are world class ROV multifunction support vessels ideal for light installation work and can accommodate 100 personnel. Each vessel represented a capital investment of US$100/120 million for the company.
EMAS’ business model is long term charter and this requires high standards of maintenance.
In 2005, the company purchased a ship yard in Ho Chi Min City Vietnam to fabricate offshore fixed and floating platforms. This allows the company to customize equipment and with their own yard can adapt vessel design.
Specifications can be individually designed so the company can offer more than an ‘off the shelf ' solution. This allows them to provide a total solution – fabrication, transport and instillation and to minimize costs for customers.
In terms of business practice and sustainability EMAS are always investigating ways to cut fuel consumption and carbon emissions. Supporting the oil and gas industry they are very aware of leakage risk potential on site.
The company supports a travelling safety team and personnel are flown to Singapore for safety training. EMAS believes that their Maritime Academy will help students learn a lot about safety as safety procedures will be trained as part of the course.