BELFAST cruise ship fit out firm Blu Marine is to set up an office in Singapore early next year as it seeks to capitalise on the growing Asian market.
It is part of a strategy by the company to become the leading firm in its field in Northern Ireland within four years.
The business, set up by Craig McCoo in 2011, fits out luxury cruise ships across the globe and also works on historic restoration projects including the HMS Caroline in Belfast.
In addition to offices on Belfast's Harbour Estate and in Southampton, Blu Marine has a presence in Hong Kong.
Blu Marine currently has 30 staff but will add five over the next fortnight and has designs on further growth over the coming months.
That includes the setting up of a Singaporean operation at the centre of one of the busiest economies for cruise ships on the planet.
"The office that we're going to open up in Singapore in six months will have permanent staff," said Mr McCoo.
"There'll be six people there for the first year including one from here.
"It will be hands on. I met the shipyard recently and it will be set up close to there. It'll service all the contractors that come into Singapore to work and that's where I see it going.
"Asia is the growth market in the global cruise ship industry. Double digit growth every year."
Mr McCoo said it was important to remain close to clients in order to build relationships and win new work.
On any given contract, Blu Marine could be competing with up to eight other firms.
And he wants a bigger slice of jobs in his ambition to match his main rival in the north MJM Marine which last year bought over Mivan.
"The four year plan is to be as big as MJM," said Mr McCoo.
"We could happily do that if two things happen. One, if we give clients the confidence to give us a bigger slice of a contract.
"On any one refit they spend £30 million, we get a maximum £2m of that.
"If we increase their confidence and our capacity, that is easy. We are not looking extra clients."
According to latest accounts, MJM Marine had turnover of £38.7m last year, while Blu Marine expects to turnover around £7m this year.
But Mr McCoo hopes one particular contract could help him on the way to unlocking the growth required to meet his ambitions.
That's because a £1.8m deal in the Bahamas is to be scrutinised by the most powerful man in the industry.
"We are doing most of the ship. It's an interesting project in as much as a company called Fathom are rebranding the shape to sail around the Americas.
"They have paying guests that want to go and help disadvantaged communities," said Mr McCoo.
"Now, the person who wants to do this is a personal friend of Micky Arison who owns Carnival that operates more than half the cruise ships in the world.
"Mr Arison will be the first man on the ship when it's complete.
"We start on the March 18 so the containers are going to have to leave here in January.
"That gives me seven weeks to get everything, source everything, manufacture everything and organise containers."
