Paramount Group, the global aerospace and technology company, announced that it has appointed Lee Connolly as the new CEO of Paramount Maritime Holdings, its naval and maritime shipbuilding subsidiary, based in Cape Town. Connolly held the position of CEO of Paramount Advanced Technologies, a Paramount Group company, until recently.
Connolly stated: “It is a privilege and honor to be selected for this role. I am very passionate about the maritime and naval industries and spent many years cutting my teeth in this sector, making this a logical step in my professional journey. Undertaking this transition from within the Paramount family is a great advantage, enabling me to continue working with the best in the business.”
“I want to thank James Fisher (founder of Nautic Africa) for his many years of inspirational leadership, from the early days of founding the business to building such an innovative and admired company that we have today. I am very pleased that James will continue to support us and invest his passion and experience into the business, in his important and future strategic role.”
Paramount Maritime Holdings, comprising ship builders Nautic Africa and Veecraft Marine, reported ongoing customer demands in the security vessel sector due to the myriad of maritime threats which today challenge the trajectory of Africa’s blue economies. This has been driven largely by a change in existing customer requirements, from service to security vessels.
“Demand has remained strong from our customers operating in the commodities markets (e.g. oil and gas and offshore renewables), with particular regard to those based in the Gulf of Guinea. This region represented over 90% of maritime conflicts around the world in 2020. Further growth is expected from within the Southern African Development Community (SADC), where regional stability remains a challenge”, Connolly remarked.
Paramount Maritime today employs hundreds of qualified personnel operating in a number of manufacturing facilities, providing innovative and reliable maritime solutions for the African shipbuilding industry and beyond. The company develops highly customized maritime vessels that address localized challenges, delivering world-class security protection, while adhering to globally-recognised environmental, social and corporate governance (ESG) criteria.
In the commercial arena, this translates to vessels that are lighter, faster and more economical, while also operating with reduced emissions. Paramount Maritime further offers support for vessels servicing Africa’s wind farms and renewable markets, providing hybrid green energy solutions, while ensuring its aluminum vessels are completely recyclable.
Yet despite the South African shipbuilding industry producing large numbers of vessels every year, 90% of which are exported, the COVID-19 outbreak (which caused many ports to experience a dramatic reduction in the number of vessels transiting due to the marked decrease in cargo volumes) forced a re-think of ‘business as usual’ within the sector in order to remain resilient.
“Despite COVID-19, the South African shipbuilding industry needs to keep reinventing itself. We were pleased to launch at close of 2020 our next-generation Survey Motor Boats (SMBs) for the South African Navy and in 2021, our 35m Sentinel flagship vessels, setting new standards in innovative design, comfort and protection. We look forward to continuing to play our role in supporting our partners that require advanced solutions to the evolutionary threats inherent in maritime security, while contributing to our industry’s response to the unique challenges that COVID-19 continues to present.” Connolly concluded.
About Paramount Maritime
Paramount Maritime Holdings, a subsidiary of Paramount Group, the global aerospace and technology company, owns a networked group of synergistic companies encompassing activities in the Industrial Maritime sector including the design, manufacture and service support of Naval, Commercial and Recreational vessels as well as the import and distribution and retail of marine products. Please visit http://www.paramountgroup.com for more information and follow us on Twitter.
About Nautic Africa
Nautic Africa is positioned as a leading shipbuilder and maritime services provider in Africa and beyond; using relationships, technology and skills to put its vessels at the forefront of modern shipbuilding. Nautic consists of naval architects, mechanical engineers and industrial designers who facilitate the construction and repair of ships and boats including ferries, warships, high-speed craft, fishing boats, rescue boats, yachts and power boats.
About Veecraft Marine
Veecraft Marine is a proudly South African company, offering specialized new vessel construction and maritime engineering solutions to a local and international client base. Its proven track record and exceptional industry reputation for producing high performance, quality vessels has solidified its position as leading specialists in aluminum construction and steel hulls. The company’s international portfolio of built vessels include Oil and Gas Support Vessels, Maritime Security Vessels, Naval Vessels, Harbour Vessels, Workboats, Passenger Vessels and Commercial Craft Vessels.