Malta Stock Exchange-listed Medserv reported in an interim statement this week that its first quarter results saw an upturn in activity out of its base in Malta, as a direct result of “extraordinary activity” spurred by the current situation in Libya.

Medserv has been providing the necessary support and services required to help its clients evacuate their people from offshore platforms in Libya as well as transporting and storing equipment. Medserv reported that the surge in activity had a positive effect on the financial results for the period in question, leading to an overall profit for the Group.

Medserv employees, supported by the Red Cross, the AFM and numerous other volunteers, unloaded the ships, palletised the goods and stored them ready for transhipment on smaller boats to the port of Misurata. “It is important to us to be able to provide support in any way possible to our home base town in Libya. Our Maltese employees have been evacuated from Misurata a while ago, but our colleagues from Libya are still on the ground. We feel duty-bound to help out wherever possible and were only too happy to support SOS Malta with this initiative,” comments Medserv chairman Anthony Diacono.

The company said that current indications are that the Group will end the first two quarters of the year in profit, but the continuing uncertainty in its main market of Libya makes it extremely difficult to formulate any reliable forecast for the second half of the year. Despite the positive results expected in the first two quarters, Medserv has taken various steps to reduce operating costs. These 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 exploration offshore Libya resumes. The importance to Libya and the international oil companies of continuing with the exploration for and production of oil and gas as soon as the situation improves, is an accepted. Medserv feels that with its emphasis on offshore operations – which will be the first economic activity to resume – the company will be well placed to benefit.

Operations out of the Misurata base remain suspended. The Group is, however, continuing with its efforts to develop new markets in the Mediterranean, in particular in Sicily.

Last week the Medserv Malta base was full of activity as the company supported SOS Malta with a humanitarian relief project for Misurata. SOS Malta was contacted by SOS Tunisia to provide the organisation with a channel to Misurata via Malta. SOS Malta is facilitating the operation and called upon Medserv for its support. The Group has agreed to warehouse 20 40-foot containers free of charge at their base. Last week, ships came alongside the Medserv quay with containers laden with necessities such as blankets, pasta and other supplies.