Through a stated strategy of acquisitions, joint ventures and organic growth, Waha Maritime is building a significant regional business in offshore supply vessel (OSV) operations catering to the oil & gas industry in the emirate of Abu Dhabi, the wider Gulf, Caspian and MENASA regions, and opportunistically further afield.

The current fragmentation of the industry in the region offers consolidation opportunities, while ongoing capital expenditures in offshore oil and gas, as well as the continued modernization of fleets, will require large capital infusions, which Waha Maritime can provide through its equity participation.

The company’s first investment was completed in July 2008, when it acquired a 49% stake in the GMMOS Group, a major industrial holding company operating in the marine, oil & gas and crane-hire sectors across the high-growth Gulf and Caspian markets.

GMMOS operates through four divisions: Grandweld, the leading shipyard in the Gulf focusing on the OSV segment; GMMOS Fabrication, an oil & gas specialized steel fabricator of pressure vessels and skid modules; Stanford Marine, a prominent OSV charter operator in the Gulf, and Gallagher, one of the largest mobile cranes fleet operators in the UAE.