AD Ports & ASRY: Bahrain & UAE Partnership LoIs Signed
- Abu Dhabi's AD Ports Group is deepening its ties with Arab Shipbuilding & Repair Yard Company (ASRY), based in Manama, Bahrain.
- The agreements build upon a previous joint venture, ASRY Marine, formed with Noatum Maritime, a part of AD Ports Group.
- One key agreement outlines the establishment of a new joint venture to manage drydock facilities and shipyards.
AD Ports Group and ASRY forge ahead with a strategic partnership, boosting maritime capabilities in Bahrain and beyond. Three letters of intent signed promise a collaborative future focusing on crucial marine services and sustainable practices. Thes new agreements mark a meaningful expansion of their existing joint venture,aiming to enhance drydock management and shipbuilding within the GCC region. Furthermore, the partnership extends to green ship recycling facilities, embracing a circular economy, supported by JM Baxi. News Directory 3 notes this initiative, vital for a safe and eco-friendly maritime environment. The venture explores joint investment opportunities in ports and terminals, solidifying the scope. Discover what’s next as these collaborations redefine the maritime landscape.
AD Ports Group Expands Maritime Services with ASRY
Abu Dhabi’s AD Ports Group is deepening its ties with Arab Shipbuilding & Repair Yard Company (ASRY), based in Manama, Bahrain. The two entities have signed three letters of intent to collaborate on strategic maritime and ports projects,focusing on marine services and enduring practices.
The agreements build upon a previous joint venture, ASRY Marine, formed with Noatum Maritime, a part of AD Ports Group. This new company aims to deliver integrated marine services in Bahrain, enhancing the region’s maritime service offerings.
One key agreement outlines the establishment of a new joint venture to manage drydock facilities and shipyards. This venture seeks to improve drydocking and shipbuilding capabilities within the Gulf Cooperation Council (GCC) region and explore opportunities in other global markets.
A second letter of intent involves JM Baxi, an india-based company specializing in marine services, ports, logistics, and technology. This collaboration will focus on creating green ship recycling facilities, promoting a circular economy thru the repurposing of ship parts and waste minimization. JM Baxi is known for its commitment to sustainable practices and supports the Hong Kong Convention,a global standard for responsible ship recycling.
the final agreement explores potential joint investment opportunities within ports and terminals, further solidifying the partnership’s scope.
“Following the accomplished formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm,” said Capt. Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group. “Exploring opportunities to establish green ship recycling facilities is also very vital for us,ensuring that vessels are retired in a safe and environmentally responsible manner.”
Dr.Ahmed Al Abri, CEO of ASRY, added, “We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements… We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation.”
What’s next
These collaborations are expected to substantially enhance maritime capabilities for both AD Ports Group and ASRY. The focus on green ship recycling underscores a shared commitment to environmental responsibility and sustainable practices within the maritime industry.