Leading with Integrity: Magdy Sharkawy’s Vision for M & Y Marine Services W.L.L
In this interview, Magdy Sharkawy, CEO of M & Y Marine Services W.L.L, shares his leadership philosophy and the guiding principles that shape his approach to managing his team. With a career spanning decades in the maritime industry, Sharkawy emphasizes the importance of leading by example and fostering a culture of trust, collaboration, and continuous learning. He discusses the challenges and triumphs of building M & Y Marine Services into a respected player in the ship repair and maintenance sector while remaining committed to the core values of integrity, commitment, and excellence. Join us as we explore Sharkawy’s vision for the future of the company and his dedication to inspiring the next generation of marine professionals.
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Career Journey: Can you share your career journey and what motivated you to establish M & Y Marine Services? What key experiences have shaped your approach as a CEO?
My career journey began back in 1971 when I chose to apply to the Faculty of Engineering at Alexandria University. At just 18 years old, I made the significant decision to leave my home governorate in Egypt and move to Alexandria on my own. This marked the first step in my path toward marine engineering and nautical architecture. After graduating in 1976, I started working at TIMSAH SHIPBUILDING AND REPAIR YARD Co, in Ismailia. This initial exposure to the marine industry allowed me to develop a deep passion for shipbuilding and repair.
In 1981, my father advised me to seek opportunities abroad due to the changing political and economic landscape in Egypt. Following his advice, I applied for a position at ASRY (Arab Shipbuilding and Repair Yard Co.) in Bahrain and was fortunate to secure the job. By December of that year, my family had joined me in Bahrain, marking a significant turning point in both my personal and professional life. My time at ASRY was characterized by determination and a keen attention to detail, traits that did not go unnoticed by my seniors. The shipyard and ship repair industry became my world, and I immersed myself in it, building a global network of professionals—a network that I cherish deeply. The trust placed in me by ship owners and agents over the years has been humbling and has continuously fueled my passion for the field, ultimately motivating me to establish M & Y Marine Services.
Founding M & Y Marine Services was a natural progression for me. The name itself holds deep personal significance—’M’ stands for Magdy, and ‘Y’ stands for my wife, Yousria, who has been my unwavering support throughout this demanding career. Starting this company wasn’t just a business decision; it reflected a lifetime of dedication and hard work in the marine industry. Transitioning from a successful career at ASRY in March 2016 to launching my own company presented its own set of challenges. One of the primary hurdles was shifting from being a sought-after individual to positioning my company at the forefront, even if it meant accepting lower profits initially.
Being the founder and CEO of M & Y Marine Services has been an intense journey, culminating in June 2024. I am immensely grateful for where we have reached today. This path is one that many technical professionals in our industry might find themselves on, especially those who thrive in large, renowned shipyards with robust systems in place. In such environments, the focus is solely on shipbuilding and repair, with everything else running smoothly in the background. However, leading M & Y presented unique challenges. One major setback was hiring the wrong people for critical roles. Our industry is unique, requiring individuals who either come from our background or are willing to fully immerse themselves in it. Another significant challenge was defining the services we provide, especially since M & Y does not own any shipyards.
Despite these challenges, I am proud to say that M & Y is now on its path to maturity. Our journey has been marked by resilience and dedication, and we have overcome numerous challenges.
Company Vision: M & Y Marine Services has marked several milestones, including its 5th anniversary. Can you provide an overview of the company’s mission and how it has evolved over the years?
It’s been quite a journey. When I first started the company, it was named M & Y Marine Consultancy, which is why our domain still reflects that old name. We’re in the process of transitioning to our new domain, mandyms.com, to better reflect our current identity as M & Y Marine Services. Initially, I felt compelled to offer the full spectrum of services that marine management companies typically provide. This encompassed everything from ship management to marine consultancy. However, my true expertise and comfort zone lie in ship repair and shipyards, a domain I know inside and out. This realization led me to narrow our focus, and it’s a piece of advice I’d like to share with others in the maritime industry: you don’t have to follow the traditional blueprint of services. It’s okay to evolve and refine your focus over time.
When starting a business, you won’t have everything perfectly defined from the get-go. It takes time to understand the market from a business perspective, which is quite different from the technical perspective. Celebrating our fifth anniversary isn’t about having achieved perfection; it’s about recognizing the perseverance and resilience it took to keep the company going. As someone with a strong reputation in ship repair, I often face the temptation of shipyards wanting to bypass my company and hire me directly. But my commitment to M & Y has remained steadfast. I want to tell engineers like me that it’s okay if your mission and vision aren’t perfect from the start. They will evolve as you gain more business insight.
Our mission and vision have transformed significantly. Initially, they sounded quite generic, but with time, they have evolved to truly represent what M & Y is and are specifically tailored to us. Our new mission is: “At M & Y Marine Services, our mission is to deliver comprehensive, innovative, and sustainable solutions that address the critical needs of the maritime industry, particularly the ship repair field. We are dedicated to enhancing operations through our Macro, Micro, and Marketing service lines, fostering strategic partnerships, and ensuring the highest standards of efficiency, reliability, and growth for our clients. Our services are based on best practices and successful operations, ensuring that we consistently meet and exceed industry standards. We are the essential partner for both shipowners and shipyards, providing the expertise and support needed for their success.”
If you saw our 5th anniversary video, you will find that at the end it says that M & Y is my legacy. This is exactly what I aimed to work on, and I think I succeeded in showing it since June 2024. This is my legacy, my contribution, and continuation to an industry that has helped shape civilizations since the beginning of time.
Service Portfolio: What are the core services offered by M & Y Marine Services, and how do they address the critical needs of the maritime industry?
At M & Y Marine Services, we’re genuinely excited about the direction we’re headed since June 2024. Our mission revolves around offering a robust portfolio that meets the ever-evolving needs of the maritime industry. We’ve developed three core service lines: M & Y Macro Service Line, Micro Services, and Marketing Services, each designed to address critical aspects of shipyard operations.
Let’s start with our Macro Services. These are big-picture solutions tailored for shipyards. We provide Shipyard Assessment and Consultation, Correctional Actions Implementation, and Training Sessions. Imagine walking into a shipyard and seeing potential areas for improvement; that’s where we come in. Our team conducts thorough inspections, particularly focusing on floating docks, to help shipyards streamline their processes and maximize efficiency. By offering a holistic approach, we ensure that operations run smoothly, and growth is sustained.
Next up, our Micro Services. These are the nitty-gritty, detail-oriented solutions that both shipyards and ship agents or ship owners often need but may struggle to implement on their own. We offer Comprehensive Estimating Services, Comprehensive Invoicing Services, and Tendering. It’s like having a specialized toolkit that can be adapted to fit each unique challenge. Despite seeming trivial, some of the stakeholders are not able to do it efficiently on their own. The beauty of our Micro Services lies in their adaptability—they’re quick, cost-effective, and flexible, making them perfect services to start relationships with new clients, later fostering strong, trust-based relationships with them.
Lastly, we’re developing a comprehensive Marketing Service Line. We’ve already seen success with network marketing, driving significant sales increases for shipyards. Our goal is to refine this into a full-fledged marketing solution that truly speaks the language of the maritime industry. By leveraging our deep understanding of the sector, we craft marketing strategies that not only resonate but also drive tangible success.
At M & Y Marine Services, our aim is clear: to offer flexible, impactful services that cater to diverse client needs. We’re committed to transforming our relationships and the industry at large through these essential and adaptive service lines. We’re thrilled about what the future holds and can’t wait to continue this journey together.
Sustainability Initiatives: Environmental sustainability is becoming increasingly important in the maritime sector. How is M & Y Marine Services contributing to sustainable practices within the industry?
Though we haven’t been very vocal about our sustainability initiatives at M & Y Marine Services, we’re deeply committed to making a positive impact. Interestingly, the push towards sustainability within our company was significantly influenced by my daughter. She wasn’t officially part of the company until recently but has always been passionate about the aquatic environment, with a particular love for humpback whales. In 2022, she proposed the “Sail Clean, Sail Green” initiative, even uploading a draft on her YouTube account. Unfortunately, due to some employment decision setbacks, this initiative hasn’t taken flight yet. However, it’s now back on the table, and we’re actively involving stakeholders who are committed to sustaining our seas.
Given that M & Y’s core focus is on ship repair and maintenance, I recently wrote an article for “Maritime Tech Talks by Magdy,” our platform for sharing industry knowledge. The article, titled “To Retrofit or Not to Retrofit: The Future of Fleet Modernization,” delves into the necessity of retrofitting ships to enhance energy efficiency and environmental sustainability in the 21st century. The maritime industry has undergone a significant paradigm shift, driven by rising fuel costs and a growing awareness of climate change. Retrofitting strategies have focused on incorporating energy-saving technologies to reduce both fuel consumption and emissions, achieving economic and environmental goals.
Additionally, in our consulting work for shipyards, we ensure their operations comply with environmental standards. Whenever issues arise, we provide the specialized expertise needed to achieve compliance. While we’ve taken initial steps towards sustainability, we’re now more vocal about our direction and commitment to this crucial issue. We believe in the cause and are dedicated to integrating sustainable practices into our operations. M & Y Marine Services is committed to contributing to a more sustainable maritime industry and ensuring our seas are preserved for future generations.
Strategic Relationships and Collaborations: Partnerships are crucial in the maritime industry. Can you discuss some of the strategic partnerships M & Y Marine Services has formed and how these have benefited the company and its clients?
In today’s business world, strategic partnerships are not just an option—they are the right answer. At M & Y Marine Services, we have been fortunate to forge meaningful alliances with esteemed companies, and we feel truly honored to have them by our side. Let me share a couple of these partnerships that have made a significant impact on our journey and, more importantly, on the services we offer to our clients.
One of our standout partnerships is with ISTECH-METALFINISH BV, a company led by the visionary Mr. Ronald Veen. ISTECH symbolises excellence in stainless-steel treatment across various industries, with a special focus on maritime. This collaboration, which holds the name ISTECH Bahrain, ensures that the quality of ISTECH services is now accessible in the Middle East and, especially, the Arabian Gulf region through M & Y Marine Services. ISTECH Bahrain brings you all the high-quality solutions you need, bolstering the reliability and durability of maritime structures—a crucial aspect for our clients who demand nothing but the best.
Another key partnership has been with JOME Engineering L.L.C, a name synonymous with outstanding performance in the maritime and offshore industries, headquartered in the bustling United Arab Emirates. JOME Engineering specialises in ship repair and offers a comprehensive range of sales services for the marine and offshore sectors. Their expertise spans from regional vessel support to timely parts supply and global supply chain solutions. What stands out about JOME is their state-of-the-art workshop and their commitment to providing 24/7 onboard repair services. Being officially registered across all UAE ports, they are authorised to conduct comprehensive ship repair activities, showcasing their dedication to quality and efficiency.
These strategic partnerships have been instrumental in elevating M & Y Marine Services. By collaborating with ISTECH and JOME Engineering, we have expanded our service offerings, ensuring we meet the diverse needs of the maritime industry. Working alongside such esteemed partners allows us to uphold the highest standards of quality and efficiency, benefiting not just us but, most importantly, our clients. In this ever-evolving industry, it’s these relationships that drive growth and innovation, enabling us to navigate the seas of change together.
Challenges in the Maritime Industry: The maritime industry is constantly evolving. What are the key challenges you see in the industry today, and how is M & Y Marine Services positioning itself to overcome them?
The maritime industry is a dynamic and ever-changing landscape, presenting both exciting opportunities and significant challenges. At M & Y Marine Services, we find ourselves uniquely positioned at the intersection of ship owners, agents, and ship repair yards. This central role exposes us to various critical dynamics within the industry, which we navigate daily.
One of the primary hurdles we face involves balancing the interests of ship owners and the capabilities of ship repair yards. Ship owners understandably demand high-quality and timely services, but shipyards can vary widely in terms of expertise and resources. Striking a balance that satisfies both parties requires meticulous coordination and negotiation. Ensuring that everyone is on the same page is no small feat, but it’s crucial for the smooth operation of our services.
Another significant challenge is maintaining high standards across the board. Particularly with lesser-known shipyards, we often find resistance when we recommend best practices. Even when shipyards reach out for our assistance, implementing the necessary changes to meet our standards can be a struggle for them. This ongoing effort to uphold our high standards is a cornerstone of our commitment to quality.
Enforcing payment terms is another area that demands careful handling. In the early stages of our business journey, personal relationships within the industry made it challenging to assert our pricing. However, distinguishing between personal and professional interactions is essential. We’ve learned that presenting solid payment schemes upfront and standing firm on these terms is vital. Sometimes, we even have to halt services if clients fail to comply with agreed terms, underscoring the importance of financial stability.
The post-pandemic landscape has introduced its own set of challenges, from supply chain disruptions and port delays to container shortages. Additionally, regional conflicts have further strained resources and logistics. Investment and spending in the industry have tightened, making it imperative for companies to adapt and innovate.
At M & Y Marine Services, we are committed to overcoming these challenges through strategic positioning and continuous improvement. Building strong relationships with both ship owners and shipyards helps us navigate the complexities of balancing interests and maintaining high standards. Our dedication to implementing best practices in ship repair and maintenance, as evidenced by our adherence to ISO 9001:2015 Quality Management Systems, underscores our commitment to quality.
We’ve also established clear and firm payment policies to ensure our financial health. By presenting these terms upfront and sticking to them, we maintain the stability of our operations. Staying abreast of industry trends and continuously adapting our strategies is another key aspect of our approach. Leveraging technology and innovative solutions allows us to enhance our services and meet the evolving needs of our clients.
In our industry, flexibility and the ability to adapt rapidly to changes are crucial. By staying competitive and responsive to the demands of our clients, we position ourselves to navigate the complexities of the maritime industry successfully. Through strategic positioning, adherence to high standards, and a commitment to continuous improvement, M & Y Marine Services is well-equipped to face these challenges head-on and continue delivering exceptional value to our clients.
Future Growth and Expansion: What are your future plans for M & Y Marine Services in terms of growth and expansion? Are there any new markets or services you are looking to explore?
When I think of M & Y Marine Services, I don’t just see a business—I see a home. It embodies a lifetime of learning and the relationships I’ve built within the maritime industry. With my daughter now actively involved and bringing her unique perspective, we’re embarking on an exciting journey of growth and diversification. While our core technical services—what we call our Macro Service Line—remain at the heart of what we do, we’re increasingly venturing into management and marketing services tailored for our maritime clients.
Our primary focus has always been the Middle East, particularly the GCC region. However, with the nature of our work, we’re equipped to serve a global clientele, especially through the specialized microservices we offer. Of course, our Macro Service Line also plays a significant role, but the microservice line enables quicker and easier outreach, serving as an initial stride towards establishing robust and extensive collaborations with clients globally.
We’re also deeply committed to educating and inspiring the next generation of Marine Engineers and Nautical Architects. This passion has led us to create initiatives like Maritime Tech Talks by Magdy. We’re channeling more energy into this project and are thrilled to announce the upcoming launch of the Maritime Tech Talks by Magdy podcast. It’s an exciting platform where we’ll have engaging conversations with remarkable guests from our field, discussing topics that truly matter to our industry.
Leadership Philosophy: What is your leadership philosophy, and how do you inspire and manage your team to achieve M & Y Marine Services’ vision and goals?
When thinking about leadership, I always come back to the idea of leading by example. Throughout my career, influenced by the managers I encountered early on, I’ve learned that leadership is fundamentally about walking the walk. When your team sees you embodying the principles you preach, it fosters a deep sense of trust and respect. At M & Y Marine Services, I, Magdy Sharkawy, have made it my mission to live out the core values we stand for—integrity, commitment, and excellence.
From day one in my career, even while managing my team in a ship repair job, my philosophy has been rooted in the belief that a leader should be willing to dive into the details right alongside their team. This hands-on approach not only builds unity but also shows that no task is beneath anyone when we’re all working toward the same goal. It’s about creating a shared sense of purpose and demonstrating that each contribution, no matter how small, is vital to our success.
Inspiring and managing a team to achieve our goals isn’t just about handing down directives; it’s about fostering an environment where every team member feels valued and heard. Open communication is crucial in this process. By maintaining an inclusive atmosphere, we not only drive innovation but also ensure everyone is on the same page regarding our vision. Being approachable and genuinely concerned for my team’s well-being helps create a culture of trust and mutual respect. When people feel that their contributions are recognized and appreciated, they’re naturally more inclined to give their best.
However, it’s important to note that even after your best efforts as a leader, not all team members may share the same work ethics. Despite guidance and opportunities for improvement, some individuals’ agendas may not align with the team’s natural ethics. In such cases, as a successful leader, it is crucial to remove these individuals to protect the team from any negative influences.
By encouraging a culture of learning and collaboration, we ensure that M & Y Marine Services remains at the forefront of the industry.