ASRY signs AMPTC fleet maintenance dealASRY signs AMPTC fleet maintenance deal

The Arab Maritime Petroleum Transport Company (AMPTC) has signed an agreement with the Arab Shipbuilding and Repair Yard Company (ASRY) to provide docking and maintenance services for AMPTC’s fleet of tankers operating in the Middle East.

AMPTC has a fleet of two LPG Carriers and 12 product carriers, including Crystal, the last in a series of four LR3 clean tankers ordered from HHI in 2021 and delivered from November 2023 through June 2024. The owner has four ships in its orderbook, Gas King and Gas Queen due for delivery in mid-2026, and a pair of vessels due for delivery in the first half of 2027.

The agreement with ASRY was signed during a meeting between leadership of the two companies, attended by HE Eng Adel Aljasem, chairman of the AMPTC board, HE Dr Ahmed AlAbri, ASRY CEO, and AMPTC director general Hocine Boudia, among other members of management and leadership.

Eng Aljasem described the partnership as an example of Arab companies working together under a shared vision, stressing the importance of diversifying income sources and strengthening productivity. Boudia added that the agreement was an example of successful collaboration between Arab companies that emphasised their shared focus on achieving progress and economic growth.

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Dr Ahmed AlAbri said: “Our relationship with AMPTC has always been based on mutual trust and shared objectives. This agreement enables us to continue providing tailored services that meet their fleet’s specific needs.”

ASRY has seen a change in the mix of international and regional work at the yard, something it attributes to the Red Sea crisis and its impact on vessel routing. Ship recycling has risen up the agenda at ASRY in recent years as part of its revenue diversification initiatives.