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First naval architecture company in Romania since 2013, EUR 350,000 turnover in 2017; significant growth expected for 2018

First naval architecture company in Romania since 2013, EUR 350,000 turnover in 2017; significant growth expected for 2018

Three young engineers from Romania in their early 30’s set up GLO Marine in 2016, the first local naval architecture company since 2013, employing only three people. A steady growth in workload allowed them to gradually employ 20 highly trained naval architects across three departments: hull design, outfitting and piping design.

In 2017, GLO Marine managed a turnover of EUR 350,000 and for 2018 the company expects a 115 percent growth (EUR 750,000) of the revenue, as a press release informs.

Alin Pohilca, Liviu Galatanu and Liviu Moise emigrated immediately after graduation, in 2010, in UK and Norway, respectively, where the maritime, offshore and naval industry are well established.

GLO Marine’s founders are naval architects with over 7 years of experience, previously working for globally recognized naval architecture consultancies such as: DNV GL, Subsea 7, Petrofac and Global Maritime.First naval architecture company in Romania since 2013, EUR 350,000 turnover in 2017; significant growth expected for 2018

Their experience involved highly technical projects complemented by management responsibilities, experience that allowed them to implement a new business model in Romania, focused on their client needs. This new approach got them their first client, VARD Tulcea, one of the most prestigious shipyards in Romania. GLO Marine also collaborates with clients from Norway and Poland, providing stability and structural analysis services.

The initial investment was about EUR 40,000, during GLO Marine’s first half of year activity. The funds came from personal savings and loans. The funds were spent to buy specialized IT hardware and software and to cover all salary costs. This investment was recovered at the end of 2017.

During last year, 75 percent of the company business was contracts with Romanian companies and the rest of 25 percent was achieved via contracts with foreign companies (Poland and Norway).

“Our business strategy, from early beginnings, was to develop a sustainable business, characterized by long-term stability that offers high-end naval architecture consultancy and design services, which are poorly covered now by the Romanian industry”, says Liviu Moise, CTO of GLO Marine. “We have and we are continuously investing in training our in-house personnel both in their technical development and client interaction skills, to establish our company as a provider of high quality services. Our healthy start, gives us confidence that in 2018 we will double our business revenue without compromising quality”

GLO Marine’s main offices are based in Galati, a major hub for naval architecture professionals, which hosts the only Faculty of Naval Architecture in Romania. The city has major ties with the industry being in the close proximity of the Galati, Braila, Tulcea and Constanta harbours. GLO Marine also has an office in UK set up in 2014, strategically placed to respond to client needs from Europe.

About Anca Bernovici