Drydocks World Dubai is the new name for Dubai Drydocks, the largest single repair complex in the Middle East. It is one of the thriving business units of Drydocks World, which is currently expanding its facilities both regionally and internationally.
The Drydocks World Group is expanding. In June last year it acquired Pan United shipyard in Singapore and shortly after that it signed an agreement to develop a large plot of land, using the Dubai Maritime City model, in Batam Indonesia. Most recently, the group made an offer of USD 1.64 billion for the acquisition of Labroy Marine, a Singapore-based company with a shipyard facility in Batam.
Its expansion strategy is set to continue and it intends to establish shipyards in strategic locations around the globe, including China, India and Vietnam.
One-stop-shop
Commenting on developments at Drydocks World in Dubai, Managing Director Nawal Saigal says, "The new name is now established and we have plans to expand our facilities to include two new VLCC (Very Large Crude Carriers) berths, an additional floating dock, and a new office building to accommodate our newbuilding division personnel. We will also complete a 4,000 bed accommodation to house our junior staff. Our goal is to provide our clients with a one-stop-shop for quality shiprepairs, newbuilding and conversion services in the United Arab Emirates."
The company has had a good slice of ship repair business over the past few years and 2007, in particular, was very good according to mr Saigal. "Last year proved to be extremely busy for us, with very high occupancy rates across all the docks. There was a high demand for our specialist services, not only from the shipping industries but also from the oil and gas sectors, with major contracts completed for offshore drill rigs and support vessels," he says.
Tanker conversions
The yard is currently involved in four conversions - three of which are tanker to FPSOs (Floating Production Storage Offloading) units. The first is the 274,300 dwt tanker Gimboa from Italy's Saipem, the second being the 273,600 dwt tanker Frade FPSO, managed by SBM Offshore Contractors and the third being the 145,200 dwt tanker Knock Allan for Fred Olsen Production. The yard is also completing the conversion to an FSO (Floating Storage Offshore) of the 68,139 dwt tanker Deep Producer from FPS Ocean.
The 16,500-ton hull for the first of the H-6 semi-submersible offshore rigs classed by DNV, Rig-Aker-Alpha, was delivered to Aker Kvaerner in August last year. Deck installation is currently being carried out at the Aker Kvaerner Stord yard.
At the moment, Drydocks World Dubai is "probably the biggest ship-repair yard in the world," believes mr Saigal. "We have a nice blend of work which includes our core strength relating to shiprepairs. For example, we are a major player in VLCC and ULCC repairs with over 50% of the world's tonnage docking in our facilities each year. In addition, we are strong in ship conversion and are a force to be reckoned with when it concerns newbuilds."
Wave of confidence
Mr Saigal is enjoying riding the wave of confidence and believes the "good times" will continue for a few years. "This business is typically cyclical. We had some lean times in the early 2000s, but demand for dock space is now very high. With our expanded facilities and focus on cost-effective, quality services, we believe we are well placed to service existing and potential clients in the future."
He continues, "It is my belief that shipyards can be built around the world, but one needs to build a team which has the commitment and attitude to "make it happen". I am proud to say that we here at Drydocks World Dubai have such a team. Our commitment to employing people with the best skills and providing a safe and secure environment for them to work, will ensure continued success."
PHOTO: Drydocks World Dubai