While foreign businesses moving their offices to UAE, the UAE Shipping Industry is becoming a global shipping hub. Currently, services ranging from import / export of goods to ship repairing and refueling, the UAE has become a complex global shipping industry, with half of the world’s internationally trading fleet of tankers passing UAE shores twice a year.
The Shipping industry in the UAE spends about half a billion dollars every year to buy materials for building, repairing and servicing ships & vessels. Considering the growth in the shipping industry in UAE, the UAE-based Hamriyah Free Zone Authority (HFZA), Sharjah, is setting up a new maritime city in the zone for marine and maritime-related industries. This is not the first maritime city in UAE, in April 2003, Dubai Maritime City, situated between Port Rashid and Dubai Dry Docks, was ordered to be constructed in the Arabian Gulf that will provide a unique environment for the global maritime community by offering great services and policies. Dubai Maritime City will create a unique specialized environment that will promote the networking and integration of leading maritime companies in one destination. With dense and multi-dimensional atmosphere emerging in the maritime service sector, it is expected that the UAE will soon take the opportunity to join the emerging maritime centers, with excellent facilities and a solid infrastructure.
One crucial element is needed to drive the shipping industry forward into the future and that is the maturity of the growth cycle. With the UAE top international businesses on the doorstep, it is time for the UAE shipping industry to work with the authorities and ensure that any issues regarding the industry are solved more quickly and swiftly. The United Arab Emirates Shipping Association (formerly known as United Arab Emirates Ship Owners Association, founded in January 2006 took major steps to solve the shipping industry issues through the development and expansion of partnerships between the suppliers and buyers. The United Arab Emirates Shipping Association (UAESA) is actively participating and interacting with other government authorities / associations and offering marketing support to members that could bring suppliers and buyers closer to each other. The establishment of UAESA will strengthen the industry and add to the overall growth of the shipping community within the UAE.