AD Ports enters joint venture for drydock services

AD Ports announces joint venture with Premier Marine Engineering Services

AD Ports Group and Premier Marine Engineering Services LLC (Premier Marine), a UAE-based shipyard company, have announced the formation of a new joint venture, SAFEEN Drydocks.

The joint venture is formed with AD Ports Group owning 51 per cent and Premier Marine owning 49 per cent.

The new enterprise will offer a broad range of vital services including drydocking, afloat repairs, ship building and refurbishment.

The hub of SAFEEN Drydocks’ operations will be located at Khalifa Port and encompass a 45,000-square-metre shipyard and repair facility, a 350-metre quay wall for vessel afloat repair, and a floating dry dock for vessel maintenance and refurbishment.

READ: AD Ports Group, Crystal Offshore ink vessel repair facility agreement

The floating dry dock is expected to commence operations in July, while the shipyard has already begun works with the construction of two barges for a UAE-based client.

SAFEEN Drydocks will reportedly operate the hub once it is fully operational, and will be prepared to accommodate a variety of vessel types such as tankers, bulk boats, container ships, offshore vessels, and jack-ups.

AD Ports intends to donate quay space at Khalifa Port for the development and operation of the new services centre through the new joint venture.

READ: AD Ports signs concession agreement for Congo’s Pointe Noire Port

Premier Marine plans to contribute its technical knowledge and experience in helping customers build, repair and maintain vessels and other maritime assets in an environmentally sustainable manner.

Together, the two entities aspire to serve the needs of not only SAFEEN Group’s maritime fleet, but also of broader regional and international client base spanning the shipping and offshore maritime sectors.

Ammar Mubarak Al Shaiba, CEO Maritime Cluster and SAFEEN Group, AD Ports Group, said: “The establishment of SAFEEN Drydocks is a milestone development for SAFEEN Group as it significantly broadens our scope of services and ability to serve the regional maritime industry.

“We look forward to working closely with our partners at Premier Marine in bringing together our global reach and their strong multi-decade track record in developing what we envision will be a regional and global hub and centre of excellence for maritime ship building, repair and maintenance.” 

READ: AD Ports plans Khalifa Port further expansion

Hemant Tandon, Managing Director of Premier Marine Engineering Services, stated: “We are privileged and honoured to collaborate with AD Ports Group during this exciting period to establish a customer-centric marine hub at Khalifa Port.

“This joint venture marks a new beginning for us, and through our partnership, our teams of highly skilled experts, coupled with the formidable expertise provided by the Group, we aim to achieve great success within the shipbuilding industry.”

Recently, AD Ports Group signed a 50-year concession agreement with Karachi Port Trust (KPT), the Pakistani federal government organisation in charge of the Port of Karachi’s operations.

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