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ASRY sees strong first quarter

Dubai: Bahrain based Arab Shipbuilding and Repair Yard (pictured) hass seen a strong first quarter for 2007, winning 48 contracts worth more than $42m. The yard also worked on 35 vessels during this period - of which 18 were for international companies. Clients calling at the yard included Kuwait Oil tanker, UAE based National Petroleum Construction, Japan based Victoria Ship Management, Bergesen Worldwide Gas ASA and Odfjell ASA from Norway. The yard also performed major refurbishments to two offshore rigs, the Al Mariyah for NDC and the ARB-1 for Saudi Aramco.

 "What has been encouraging for the yard is the fact that the value of repairs completed has risen over the year and with high demand it is hoped that this trend will continue", commented ASRY ceo Mohamed Alkhateeb.

The yard is currently expanding and the construction of a new twin slipway project is due to be completed at the beginning of 2008. This development is expected to have a major impact on business for ASRY, since it will free up valuable dock space for larger vessels and give owners more flexibility in space availability.  [20/04/07]

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