Threeways Shipping Services (Group) Limited
About
Threeways Shipping Services (Group) Limited is a prominent logistics and transportation company headquartered in Uganda. The company has established itself as a key player in the logistics sector, especially through its significant involvement in major oil and gas projects in the region.
Recent Activities and Achievements
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Tilenga Project Involvement:
- Role: Threeways Shipping Services is playing a crucial role in the Tilenga project, operated by TotalEnergies, located in the Lake Albert region of Uganda. This project is one of the most significant developments in the area, aiming to produce approximately 1.4 billion barrels of crude oil over a minimum of 20 years.
- Services Provided: The company is responsible for intra-field logistics, which includes the movement of equipment and materials, support for lifting operations, and providing manpower and logistics solutions. This involvement has made Threeways the first local Tier 1 provider to global clients like TotalEnergies and China National Offshore Oil Corporation (CNOOC)
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Contract Wins and Financial Recovery:
- Contract Value: Over the next five years, Threeways Shipping Services has secured contracts worth about $50 million. These contracts are primarily for providing services to TotalEnergies and CNOOC on the Tilenga and Kingfisher oilfield projects.
- Financial Turnaround: The company has successfully bounced back from a period of financial difficulties, marked by a slump in revenue due to various local and international challenges. This recovery is attributed to strategic contract wins and a focus on maintaining high standards in logistics and transportation services
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Environmental and Operational Excellence:
- Sustainability Efforts: The Tilenga project aligns with TotalEnergies’ strategy of approving only low-cost and low-emission projects. Measures have been incorporated to limit greenhouse gas emissions, including the extraction of Liquefied Petroleum Gas and the solarization of the East African Crude Oil Pipeline (EACOP).
- Operational Assets: Threeways Shipping Services boasts a substantial fleet, including trucks, cranes, forklifts, and various support vehicles, 90% of which are dedicated to their oil and gas contracts. The company's expertise in heavy lifting and logistics has been a critical factor in their current success and ongoing operations (Sagarmala Gov In)
Strategic Vision and Future Prospects
Threeways Shipping Services (Group) Limited is focused on leveraging its current success to expand its operations further. The company aims to maintain its high standards and professional relationships, cherry-picking opportunities that align with its strategic goals. With a strong foundation in Uganda, there are plans to extend operations to other regions, such as Mombasa, to capitalize on new business opportunities.
Key Takeaway
Threeways Shipping Services (Group) Limited exemplifies resilience and strategic growth in the logistics sector. Their pivotal role in major oil and gas projects like Tilenga and Kingfisher underscores their capability and commitment to excellence. As they continue to navigate the evolving landscape of logistics and transportation, their focus on quality service and sustainable practices positions them well for future success.