Bin Thaniah opens Middle East Money & Ships

Opening the Middle East Money & Ships conference at the Grand Hyatt Dubai today, Bin Thaniah said: "The massive expansion activities that are currently underway at Jebel Ali port are a reflection of the growing strategic importance of Dubai as a maritime hub.

"The multi-billion mega expansion will significantly increase the storage handling capacity at the port and boost business volumes."

Bin Thaniah delivered the keynote address at the region's conference for maritime financiers, insurers, lawyers, banks and investors.

"The developments taking place at JADAF Dubai, Dubai Dry Docks and the completion of Dubai Maritime City in 2006 will be a tremendous boost to the emirate's maritime industry,"

he said.

"With world-class infrastructure, services and regulations, Dubai Maritime City will create a unique specialised environment that will promote the networking and integration of leading maritime companies in one destination. We are certain that this conference will serve as an excellent platform for leading industry players to discuss ways to provide a further impetus to the region's maritime sector."

Middle East Money & Ships which runs till tomorrow (Tuesday) is organised by international maritime publisher and event organiser Seatrade.

The conference features leading international speakers, addressing the latest issues impacting maritime development, including investment risks, environmental impact and energy transportation in both oil and LNG sectors.

"Support for this conference has been very encouraging and naturally reflects the huge growth in Middle East maritime development," said Chris Hayman, Managing Director, Seatrade.

"Demand for the transportation of oil and gas products, which is vital to this region, has created a surge in demand for new vessels and innovative means of financing them.

"Middle East Money & Ships focuses on the intense level of maritime activity now taking place in the Middle East, including the changing profile of the Arab-owned fleet, why the maritime sector is attracting more interest from Arab investors, joint venture activity between Arab and international partners, energy transportation, finance for shipping and Shariah-compliant investment instruments for marine assets."

The conference is sponsored by NITC, NSCSA, Det Norske Veritas, Emarat Maritime, International Tanker Management, LMG/Cooper Gray and Lloyd's Register. The conference is fully endorsed and supported by Dubai Maritime City and DP World.