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A new high-speed, multipurpose naval vessel Tuguemi has been christened in Hamlet Quay in Elliot Basin, Cape Town, South Africa…

Piracy Surge in Atlantic a Boon for South African Boat Builder Aug 04 2021, 4:35 PM August 04 2021, 10:30 AM August 04 2021, 4:35 PM (Bloomberg) -- (Bloomberg) -- A proliferation of pirate attacks in the Gulf of Guinea, an expanse of the Atlantic Ocean stretching from Senegal to Angola, is driving a security-boat building boom in South Africa. Paramount Maritime Holdings, a unit of Africa’s biggest privately owned arms-maker, Paramount Group, says it has largely cornered the market for patrol and escort vessels used in the waters offshore Nigeria and neighboring states. The company cur...

Dirk Erasmus Paramount Maritime Holdings, a unit of Africa’s biggest privately owned arms-maker, Paramount Group. It has cornered the market for patrol and escort vessels and currently has 26 boats with a total price tag of about $60 million under construction in Cape Town However Paramount is facing  increasing competition from suppliers in Singapore and Israel. A proliferation of pirate attacks in the Gulf of Guinea, an expanse of the Atlantic Ocean stretching from Senegal to Angola, is driving a security-boat building boom in South Africa. Paramount Maritime Holdings, a unit of Africa�...

Nautic Africa Launches Next- Generation 35 Metre Flagship Vessel Paramount Maritime Holdings subsidiary, Nautic Africa has announced the launch of its new flagship 35m Sentinel vessel, the second of the new enhanced class, in a major milestone for the company and the wider African shipbuilding industry, due to its successful completion despite the challenges presented by the COVID-19 lockdown enforced across the globe. Following the successful completion of sea trials, the multi-purpose vessel is destined for the Gulf of Guinea where it will be utilised for International Oil Company (IOC)-rel...