Profits surge for Arabia's oldest marine yard

K s r Menon
Friday, February 03, 2006
>Jadaf Dubai, Arabian Gulf’s oldest ship repair and industrial marine yard has recorded a 35 per cent jump in revenues for the year 2005, compared to the corresponding period in 2004. The announcement comes close on the heels of a seven per cent increase in its ship lifting and repairing activities, owing to greater demand for its service and expertise.
The yard’s two docks repaired and carried out maintenance of a total of 2347 ships during 2005, with 166 more ships being docked, undocked and re-docked as compared to the 2181 vessels it catered to during 2004.The excellent revenues were posted in part due to the increase in surcharge for berthing in-out and block arrangement, cleaning services, docking and undocking charges, wharfage charges and bank interest earned on monies. Contributions by Jadaf Dubai posted an actual increase of 22 per cent on year to date for 2005
Commenting on figures, Hamed Mohammed Bin Lahej, General Manager, Jadaf Dubai said: “We are pleased with increase in revenues which has fallen in line with the increase in our performance for 2005 as compared to the previous year. The rising demand for our expertise in ship docking and undocking has directly led to the results greatly improving our performance for another consecutive year.”
“In addition, we have also invested heavily in improving our operational outlays. By increasing expenditure for staff training and facilities and equipment management we are reinforcing our commitment to upgrading our procedures and expertise. By investing in the present we hope to cap our future operational costs while providing precision and expertise for smooth and efficient services,” he added.
Since its establishment in 1979, Jadaf Dubai has emerged as the preferred dock for prominent fleet operators such as Seabulk International, Amasco, Al Jaber, Stanford Marine, Gulf Agency, Inchcape, NMS and Inter Marine, besides attracting customers from South Asian, African and European countries. Jadaf Dubai serves various kinds of sea-faring vessels including yachts, passenger ships and oil tankers, in partnership with 275 companies operating within the yard and another 150 companies dealing with the yard externally.
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