‘Extraordinary activity’ due to the Libyan crisis has resulted in an upsurge of activity at Medserv’s Malta base in the first quarter of the year, the company said in its interim directors’ statement. The group expects to end the first half of the year in profit but continuing uncertainty over Libya made it “extremely difficult” to forecast the performance of the second half.
The activity involved the provision of the necessary support and services required to help clients evacuate their people from offshore platforms in Libya and the transportation and storage of equipment.
Medserv reported that the surge in activity had a positive effect on the financial results for the first quarter, leading to an overall profit for the group.
Despite the positive results expected in the first two quarters, Medserv has taken various steps to reduce operating costs. These actions are designed to enable the company to retain its financial stability and its capability to respond, at the first possible opportunity, as soon as the situation in Libya stabilises and the production and offshore exploration resumes.
Medserv believes it will be well placed to benefit once offshore operations – the first economic activity to resume in Libya – kick off again.
Operations out of the Misurata base remain suspended. The group is however continuing with its efforts to develop new markets in the Mediterranean, particularly Sicily.
Last week, Medserv’s Malta base was full of activity as the company supported SOS Malta with a humanitarian relief job for Misurata. SOS Malta was contacted by SOS Tunisia to provide the organisation with a channel to Misurata via Malta.
Medserv agreed to warehouse 20 40-foot containers free of charge at its base. Last week, ships came alongside the Medserv quay with containers laden with necessities such as blankets, food and other supplies. Medserv employees supported by the Red Cross, the Armed Forces and numerous volunteers, unloaded the ships, palletised the goods and stored them, ready for transhipment on smaller boats to Misurata port.
“It is important to us to be able to provide support in any way possible to our home base town in Libya,” Medserv chairman Anthony Diacono said. “Our Maltese employees were evacuated from Misurata a while ago, but our colleagues from Libya are still on the ground. We feel in duty bound to help out wherever possible and were only too happy to support SOS Malta.”