AD Ports, Premier Marine form drydocking JV
UAE-based port operator AD Ports Group and Premier Marine Engineering Services LLC (Premier Marine), a compatriot shipyard company specialising in shipbuilding and repair services to the marine and offshore industries, have formed a new joint venture, SAFEEN Drydocks.
The joint venture is structured as a 51% ownership by AD Ports Group and 49% by Premier Marine.
The new enterprise will offer a broad range of services including drydocking, afloat repairs, shipbuilding, and refurbishment. The hub of SAFEEN Drydocks’ operations will be located at Khalifa Port and encompass a 45,000m2 shipyard and repair facility, 350m quay wall for vessel afloat repair, and a floating dry dock for vessel maintenance and refurbishment.
The floating dry dock is expected to commence operations in July of 2023, while the shipyard has already begun work with the construction of two barges for a UAE-based client. Once fully up and running, the hub will be operated by SAFEEN Drydocks and equipped to accommodate a range of vessel types including tankers, bulk vessels, container ships, offshore vessels, and jack-ups.
As disclosed, AD Ports Group will provide quay space for the hub, leveraging its expertise in maritime logistics. Premier Marine will contribute its technical knowledge to support the environmentally sustainable construction, repair, and maintenance of vessels and maritime assets. The partnership aims to cater to the needs of SAFEEN Group’s fleet as well as regional and international clients in the shipping and offshore maritime sectors.
“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,” Captain Ammar Mubarak Al Shaiba, Acting CEO Maritime Cluster and SAFEEN Group, AD Ports Group, said.
“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,” Hemant Tandon, Managing Director of Premier Marine Engineering Services, said.