DNV reports record Middle East turnover

DNV's US$38 million turnover in the Middle East breaks company record.
Positive outlook from DNV?s Eivind Grostad.
Positive outlook from DNV?s Eivind Grostad.


With surging growth in ship classification, together with strong demand for risk management services in the energy and industrial sectors, DNV has announced record turnover in the Middle East.

Revenues for 2007 totalled US$38 million, up 33% on 2006 levels, with maritime accounting for 62%, energy for 25%, and other industries representing 14%.

"The maritime business is surging ahead, oil and gas activities are growing at a steady pace and the industrial certification, training and risk management business is on the increase," commented Eivind Grostad, DNV's senior vice president and regional manager for maritime.

"Business trends are exceptionally positive and in response to the enormous market potential, we are increasing our commitment to the region as more and more customers are expanding their own businesses here."


The 2007 financial figures published by DNV show that the company achieved global revenues of $1.38 billion last year, producing an operating profit of $148 million. Within the field of ship classification, DNV's share of the world fleet measured in gross tonnes is approximately 16%. Of the new-builds contracted during 2007, DNV's share of the world market was 19% when measured in gross tonnes, which represents 741 ships.

With more customers come greater numbers of staff; the current DNV regional headcount is 221 and growing by 20% annually.

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