Dubai: A veteran of the Middle East shipyard scene has questioned the incredibly low prices some of his competitors are offering to secure business.
Geoff Taylor (pictured), managing director of Topaz Marine Engineering, told our sister site Maritime CEO: “We do wonder sometimes how people are able to offer services at prices below cost.”
Taylor, the former Dubai Drydocks boss, acknowledged that there is overcapacity among yards in the Middle East. “They are all feeling it,” he said. “As a result, rates have to be very, very competitive,” he added.
The full interview can be accessed here. [10/09/14]