Craig Group Expands Presence in Australia

The Craig Group is looking to grow its presence in Australia with a new partnership agreement. The global shipping and energy services firm is hoping to win business in the rapidly expanding offshore Australasian market, estimated to be worth $10 billion a year.

International Mooring Systems (IMS), the division of The Craig Group which specializes in the sale and rental of mooring systems and equipment, has signed a joint marketing agreement with Jeyco - Australia's foremost supplier of offshore towing, mooring and rigging services and equipment.

It is estimated that planned or approved projects valued at over $30 billion will come on stream in the next two to five years, with another $45 billion over the following five years.

Douglas Craig, managing director of Craig Group says : "This agreement will enable both companies to grow their business. Jeyco's local knowledge and expertise coupled with the strength of the Craig Group's financial position and global reputation in the oil and gas sector will ensure that we are ideally placed to capitlalise on the forth-coming major projects and the move into deeper water, where we have a proven-track record."

Managing director of Jeyco, Simon Taylor, is equally optimistic about the potential in Australasia. "Combining our marketing efforts to promote a total moorings solution package with local content and knowledge and the breadth of Craig Group's global expertise will open up significant opportunities for both organizations."

"Jeyco is particularly excited about the relationship as the Craig Group financial support, global expertise and equipment will allow them to support virtually any mooring requirement on considerably shorter lead times than has traditionally been available, especially for short or long term rentals."

As part of the joint venture Jeyco will take on the management of the large amount of mooring equipment that IMS already has in Australasia.

Company: Craig International Supplies Ltd. more info
 - Craig Scores Contract Duo (Jan 31)
 - Craig International Supplies Secures Contract Extensions (Aug 23)
 - Craig Group Scores First Asian Contract (May 04)