BUSINESS REPORTER
MUSCAT, MAY 13
Asyad Dry Dock in Duqm has established its leadership and competitiveness in marine services and solutions in the Middle East and North Africa region, becoming a global provider of maintenance and repair services for giant ships.
Since its inception in 2011, the ship repair yard has undertaken over 1,300 repair and maintenance jobs for more than 550 local and international commercial clients from 45 countries. The company, part of Asyad Group, earned revenue of around RO 57 million, including a net profit of RO 12 million at the end of 2022.
In all, 221 ships were handled in 2022, including 190 ships for periodic maintenance and 31 ships which called at Duqm for the installation of new equipment and navigation aids. Vessels remained in dry-dock for repairs and maintenance for an average of 14 days at Duqm, compared to an average of 18 days for other regional basins.
Also in 2022, Asyad Dry Dock added shipbuilding services to its business portfolio, as it was able to provide its services to the regional market by building ships with standard specifications for various uses such as shipping and navigational services to meet the growing needs of its customers.
The Asyad Group developed a growth plan for the 2023-2027 period. It also includes proposals for the purchase of a floating dock, the construction of new workshops, warehouses and equipment, and a section specialized in shipbuilding. The current dry dock area accommodates three floating docks offering cost-competitive services and timely results as opposed to dry docks.
Dr Ibrahim bin Bakhit al Nadhiri, CEO of Asyad Shipping and Dry Dock, said the capabilities of the dry dock and the reliability of its services have helped attract the largest operators and leading companies in the sector. Also adding to the yard’s appeal are the competitive advantages enjoyed by the dock, which include the strategic location, prices, services, time, quality of work, and the adoption of the highest standards of environment, occupational health and safety, are unique and compatible with the requirements and needs of customers, as well as marketing dry dock’s high capabilities in installing large devices such as ship exhaust gas purification devices and ballast water treatment devices. The yard can also carry out repair work for the hulls of ships that are exposed to marine accidents, as evidenced by the dry dock recent ability to undertake about 600 tonnes of metalwork on a ship within six days.
Moreover, the dry dock has also recently added to its competitive advantage by introducing “Nano Epoxy” silicone coating technology in ship maintenance operations.
Dr Al Nadhair added that the yard awards around 60 per cent of contracts to the local markets and 30 per cent to small and medium enterprises.
The yard’s two main dry docks can handle ships up to 600,000 deadweight tonnage. It can carry out general ship repairs, including engineering, electrical, engine engineering, electrical and mechanical systems, propulsion and fittings related work, sanding and painting, as well as procurement and quality control activities, he added.
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