Abu Dhabi’s AD Ports Group has signed three Letters of Intent (LoIs) with Arab Shipbuilding & Repair Yard Company (ASRY) in Bahrain. The agreements aim to advance shipbuilding capabilities, enhance marine services, and promote green ship recycling.
This move follows the recent creation of ASRY Marine, a joint venture between ASRY and Noatum Maritime, which is part of AD Ports Group’s Maritime & Shipping Cluster. The JV is designed to provide integrated marine services across Bahrain.
Expanding Drydock and Shipbuilding Capabilities
The first agreement outlines a Head of Terms to create a new joint venture. This company will manage drydock facilities and shipyards in Bahrain. It also aims to expand shipbuilding expertise across the Gulf Cooperation Council (GCC) and explore other regional opportunities.
By combining infrastructure and operational strengths, AD Ports Group and ASRY plan to offer more competitive services and expand their reach in the maritime sector.
Introducing Green Ship Recycling With JM Baxi
The second LoI involves India-based JM Baxi, a major player in marine, logistics, and port services. This partnership will focus on developing eco-friendly ship recycling facilities.
The project aims to reduce waste by reusing ship components, promoting a circular economy. JM Baxi supports the Hong Kong Convention, a global standard for safe and responsible ship recycling.
By introducing this initiative, the partners are taking an important step toward sustainable maritime practices in the region.
Exploring Joint Port Investments
The third agreement seeks to identify shared investment opportunities in ports and terminals. This aligns with the partners’ broader strategy to expand their presence in key maritime hubs.
Leadership Insights and Future Outlook
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said:
“Following the launch of our joint venture with ASRY, we’re excited to deepen our maritime collaboration. These new agreements create more room for value creation and sustainable growth. Establishing green ship recycling is a key step for ensuring vessels are retired safely and responsibly.”
Dr Ahmed Al Abri, CEO of ASRY, added:
“We’re proud to strengthen our strategic partnership with AD Ports Group. These agreements reflect our focus on innovation and sustainable growth. Together, we aim to enhance our shipbuilding capacity and lead the way in green maritime solutions.”
A Step Toward Sustainable Maritime Growth
These new agreements demonstrate a shared vision for expanding maritime capabilities while embracing environmental responsibility. The focus on drydock operations and green recycling supports both economic and sustainable development goals for the wider region.
