Latest news with #ASRY
Zawya
6 days ago
- Business
- Zawya
AD Ports, Bahrain's ASRY join forces to support maritime sector in GCC
Abu Dhabi – Abu Dhabi Ports Company (AD Ports) inked three heads of terms (HoTs) with Bahrain-based Arab Shipbuilding and Repair Yard Company (ASRY)for strategic maritime and ports projects. The two parties seek to set up a joint venture (JV) that manages drydock facilities and shipyards, according to a press release. It aims to improve dry docking and shipbuilding capabilities within the GCC region and explore opportunities in other regions. Both sides penned a second HoT with JM Baxi, an India-based well-established business specializing in marine services, ports, logistics, and technology, to create green ship recycling facilities. This agreement aims at promoting a circular economy by repurposing parts and minimizing waste, which contributes to cutting carbon emissions. AD Ports and ASRY signed a final deal to explore joint investment opportunities within ports and terminals. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, commented: 'Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Ahmed Al Abri, CEO of ASRY, said: "By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in dry-docking and shipbuilding across the GCC and beyond. ' 'We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation,' Al Abri highlighted. The new agreements bolster the two parties' maritime capabilities and reach, driving commitment to sustainability and industry growth. This move follows the establishment of ASRY Marine, a joint venture (JV) between Noatum Maritime, part of the ADX-listed group's Maritime and Shipping Cluster, and ASRY. In the first quarter (Q1) of 2025, AD Ports recorded 16% year-on-year (YoY) higher net profits at AED 463.50 million, compared to AED 400.13 million.
Gulf Today
13-06-2025
- Business
- Gulf Today
AD Ports Group, ASRY to collaborate on strategic maritime, ports projects
AD Ports Group signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY), for the provision of marine services in Bahrain to collaborate on strategic maritime and ports projects. The signing took place in the presence of Shaikh Nasser Bin Hamad Al Khalifa, His Majesty's Representative for Humanitarian Works and Youth Affairs, Kingdom of Bahrain, Chairman of Bapco Energies. These new agreements follow the successful establishment of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group's Maritime & Shipping Cluster, and ASRY, focused on providing integrated marine services in Bahrain. The first Head of Terms (HoT) pertains to a Joint Venture (JV) to manage drydock facilities and shipyards. The JV aims to leverage the capabilities and facilities of each party through their established businesses in this sector. This agreement seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions. Additionally, both parties signed a second HoT with a third party, JM Baxi, an India-based well-established business specialising in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste, thereby reducing carbon emissions. Green recycling in the shipping industry involves the environmentally responsible dismantling and repurposing of ships, contributing to resource conservation and pollution reduction. JM BAXI is actively involved in promoting and implementing sustainable practices in this area and supports the implementation of the Hong Kong Convention (HKC), a global standard for responsible ship recycling. The final HoT signed by AD Ports Group and ASRY relates to exploring joint investment opportunities within ports and terminals. Through the creation of a collaborative framework and a working group the parties will draw on their joint expertise to identify prospective areas of development. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Dr. Ahmed Al Abri, CEO - ASRY, said, ' We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond.' 'We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.' The new areas of cooperation strengthen both parties' maritime capabilities and reach, while the focus on green ship recycling highlights a commitment to sustainability and environmental responsibility, driving innovation and industry growth. Meanwhile last month AD Ports Group signed a Head of Terms Agreement with Advario, a leading global provider of tank storage and infrastructure solutions, to explore establishing a joint venture to develop and operate green energy and liquid bulk storage projects in the UAE and globally. The proposed joint venture, which would be 51 per cent owned by AD Ports Group and 49 per cent by Advario, has the potential to unlock significant growth opportunities in the fields of clean energy alternatives and bulk chemicals storage by leveraging the partners' complementary strengths, expertise, and market access. AD Ports Group would work closely with Advario's UAE partner, Star Energy, to explore the collaboration. If a joint venture is created, Advario would build bulk storage tanks at Khalifa Port and supporting pipeline infrastructure to the Group's clients in KEZAD, the Middle East's largest integrated industrial zone network. By leveraging KEZAD's industrial base and fully integrated infrastructure, a collaboration will not only enhance AD Ports Group's existing liquid bulk capabilities, but create a launchpad for future investments in clean energy infrastructure, including hydrogen carriers such as ammonia, methanol, and other emerging fuels. WAM
Arabian Business
13-06-2025
- Business
- Arabian Business
Abu Dhabi's AD Ports Group and Bahrain's ASRY sign three LoIs
Abu Dhabi's AD Ports Group has signed three letters of intention with the Manama-based Arab Shipbuilding & Repair Yard Company (ASRY) for the provision of marine services in Bahrain, and to collaborate on strategic maritime and ports projects. These agreements come after Noatum Maritime, part of AD Ports Group's Maritime & Shipping Cluster, formed a joint venture (JV), ASRY Marine, with ASRY. The new company will be focused on providing integrated marine services in Bahrain. AD Ports and ASRY deepen strategic ties AD Ports Group has now signed a Head of Terms (HoT) to establish a new JV to manage drydock facilities and shipyards. The JV company seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions. The two parties signed a second letter of intent with India-based JM Baxi, which is in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste. JM BAXI is known for promoting and implementing sustainable practices in green recycling and supports the implementation of the Hong Kong Convention, a global standard for responsible ship recycling. The final HoT seeks to explore joint investment opportunities within ports and terminals. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, commented: 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. 'We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Dr Ahmed Al Abri, CEO, ASRY, added: 'We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond. 'We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector.'
Arabian Post
13-06-2025
- Business
- Arabian Post
AD Ports and ASRY Forge Maritime Growth Alliance
A new maritime alliance took shape on 12 June 2025 as AD Ports Group and the Arab Shipbuilding & Repair Yard Company signed three Heads of Terms, solidifying their collaboration in marine services across Bahrain, in a ceremony attended by H.H. Shaikh Nasser bin Hamad Al Khalifa, His Majesty's Representative for Humanitarian Works and Youth Affairs and Chairman of Bapco Energies. The agreements build upon the operational success of ASRY Marine, a joint venture between Noatum Maritime—a division within AD Ports' Maritime & Shipping Cluster—and ASRY. The first agreement paves the way for a joint venture to manage dry-dock facilities and shipyards. This alliance intends to elevate shipbuilding and dry-docking capacities within the Gulf Cooperation Council region and investigate expansion into other markets. A second agreement brings JM Baxi, an Indian marine‑services and logistics specialist, into the fold. Together, the trio will develop green ship‑recycling facilities, aligning with the Hong Kong Convention's standards to promote a circular maritime economy while reducing carbon emissions. ADVERTISEMENT The third agreement focuses on exploring joint investments across ports and terminal operations. A strategic working group will evaluate potential development opportunities and shared infrastructure initiatives. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, described this as a natural progression of their maritime ties: 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm.' He emphasised that establishing green ship‑recycling facilities would ensure vessels are retired responsibly. Dr Ahmed Al Abri, CEO of ASRY, expressed confidence in the partnership's potential: 'By combining our shared expertise and advanced infrastructure… we aim to strengthen our capabilities in dry-docking and shipbuilding across the GCC and beyond.' He also highlighted the firm's commitment to innovation and sustainability, particularly in ship recycling facilities and new terminal operations. The deal builds upon the February 2025 launch of ASRY Marine, in which Noatum Maritime contributed four ASD tugboats and a mooring vessel to modernise ASRY's fleet. The operational deployment of these tugs in April underscored the joint venture's readiness, showcasing the firms' intent to enhance efficiency and reliability through modern assets. Industry analysts suggest that this multi‑layered agreement positions Bahrain as a regional hub for integrated maritime services, underpinned by sustainable practices and infrastructure investment. With the Gulf's shipping and ship-repair sectors poised for growth, the alliance is expected to offer a competitive edge. ASRY's expertise in fabrication and repair, backed by stakeholders from GCC nations since its establishment in 1977, complements AD Ports' regional logistics reach. The inclusion of green ship‑recycling aligns with global maritime trends. Under the Hong Kong Convention framework, these facilities focus on safe dismantling, materials recovery, and minimal ecological impact—a factor increasingly important as decarbonisation becomes integral to port strategies worldwide. Looking ahead, the formation of a working group to assess port and terminal investments signals a long‑term strategic vision. By integrating learnings from the dry-dock and recycling initiatives, both organisations can explore infrastructure synergies and diversify service offerings, potentially extending beyond Bahrain.
Zawya
13-06-2025
- Business
- Zawya
AD Ports Group, ASRY sign three heads of terms to collaborate on strategic maritime, ports projects
ABU DHABI: AD Ports Group signed three Heads of Terms (HoTs) with the Arab Shipbuilding & Repair Yard Company (ASRY), for the provision of marine services in Bahrain to collaborate on strategic maritime and ports projects. The signing took place in the presence of H.H. Shaikh Nasser bin Hamad Al Khalifa, His Majesty's Representative for Humanitarian Works and Youth Affairs, Kingdom of Bahrain, Chairman of Bapco Energies. These new agreements follow the successful establishment of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group's Maritime & Shipping Cluster, and ASRY, focused on providing integrated marine services in Bahrain. The first Head of Terms (HoT) pertains to a Joint Venture (JV) to manage drydock facilities and shipyards. The JV aims to leverage the capabilities and facilities of each party through their established businesses in this sector. This agreement seeks to enhance drydocking and shipbuilding capabilities within the GCC and explore opportunities in other regions. Additionally, both parties signed a second HoT with a third party, JM Baxi, an India-based well-established business specialising in marine services, ports, logistics, and technology. This agreement focuses on creating green ship recycling facilities to promote a circular economy by repurposing parts and minimising waste, thereby reducing carbon emissions. Green recycling in the shipping industry involves the environmentally responsible dismantling and repurposing of ships, contributing to resource conservation and pollution reduction. JM BAXI is actively involved in promoting and implementing sustainable practices in this area and supports the implementation of the Hong Kong Convention (HKC), a global standard for responsible ship recycling. The final HoT signed by AD Ports Group and ASRY relates to exploring joint investment opportunities within ports and terminals. Through the creation of a collaborative framework and a working group the parties will draw on their joint expertise to identify prospective areas of development. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, 'Following the successful formation of our recent joint venture with ASRY, we look forward to deepening our collaboration across the maritime realm. We have already developed strong working ties, and this agreement opens the door to create more value and growth across our operations. Exploring opportunities to establish green ship recycling facilities is also very important for us, ensuring that vessels are retired in a safe and environmentally responsible manner.' Dr. Ahmed Al Abri, CEO – ASRY, said, " We are proud to enhance and expand our strategic partnership with AD Ports Group through these new agreements. By combining our shared expertise and advanced infrastructure, and in line with global shifts in the maritime industry, we aim to strengthen our capabilities in drydocking and shipbuilding across the GCC and beyond. We also look forward to developing green ship recycling capacities and entering a vital new field in port management and operation. These initiatives reflect our ongoing commitment to a culture of innovation, operational excellence, and driving growth in the maritime sector." The new areas of cooperation strengthen both parties' maritime capabilities and reach, while the focus on green ship recycling highlights a commitment to sustainability and environmental responsibility, driving innovation and industry growth.
