Qatar’s state-run shipping and logistics major Milaha has announced a reorganisation of the company as it looks to focus on core business growth.
As part of the reorganisation, Milaha is creating a new strategic pillar – marine and technical services – that will focus on providing vessel and industrial equipment owners and operators with comprehensive, end-to-send services with an aim to help them achieve greater asset efficiency and lower total cost of operations.
The existing maritime & logistics pillar will focus on enabling trade and providing end-to-end supply chain solutions for commercial customers through its container shipping, ports, and logistics.
In the meantime, the company is looking to exit the travel agency business, as well as de-emphasise its equipment agency and distribution activities.
Following the completion of the reorganisition, four out of Milaha’s five strategic pillars will focus on core-business including maritime and logistics, offshore marine, gas & petrochem, and marine & technical services. The fifth pillar, Milaha Capital, will deal solely with financial and real estate investments.
“We want to build on our already-strong capabilities to create an unmatched presence in the marine services sector. We aim to be a one-stop shop for the needs of all shipowners and operators, trucking companies, and heavy equipment operators. This is also in response to the increased growth in maritime shipping in Qatar, particularly after the opening of Hamad Port as well as the anticipated growth from the second phase, in addition to the growth in the Oil and Gas sector over the next few years,” said Milaha president and chief executive officer Abdulrahman Essa Al-Mannai.“Over 80 percent of our revenues are now coming from our core sectors and customers, and we plan to build market-leading positions in these areas in the coming years. Developing these capabilities locally will also support the diversification and competitiveness of Qatar’s economy, in line with Qatar National Vision 2030,” Al Mannai added.